Gold hold out inside $1,480 – $1,500 range

The price of gold maintains the position inside $1,480 – $1,500 range and provides us with no major clue in the next direction. The precious metal expected to continue its ranging movement between $1,480 – $1,500 and inside the bearish channel.

Today critical levels to watch:

Support: $1,480, $1,450, $1,430

Resistance: $1,500, $1,550

Silver continue inside $17.50 – $17.73

Silver is waiting for a trigger to move inside the $17.50 – $17.73. The price continues its consolidation inside the range and shows no indication of a breakout yet. We favor the bearish scenarios where the price rejected from $17.50 – $17.73 and the trendline. If Silver moves lower then the price might target $17.00. However, if upside breakout happens then $18.50 is the target.

Today Critical levels to watch:

Support: $17.50, $17.00, $16.80

Resistance: $17.73

Crude oil starting a bearish movement

The price of crude oil slip below $54.50 and might show valid rejection from the top of the channel even though the price has not touched it. At the current time, the downward movement of crude oil has reached the $52.40 support level. Will we see further weakness toward the bottom of the channel?

Today critical level to watch:

Support: $52.40

Resistance: $54.50, $55.80, $57.60