Gold stick inside $1,480 – $1,500 range

Not much change since yesterday as gold prices continue to trade inside $1,480 – $1,500 range. The precious metal might continue its ranging movement until breakout happen. The direction of the breakout is not clear yet, but it seems the odds piling up to the bullish side.

Today critical levels to watch:

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

Resistance: $1,500, $1,550

Silver recover after sharp decline

The price of silver drops sharply today below the previous week’s low. It is expected to continue the weakness toward $17.00. However, the price recover immediately and currently traded near its opening level. If silver could continue to maintain the bullish pressure then we could expect a test on the top trendline again.

Today Critical levels to watch:

Support: $17.00, $16.80

Resistance: $17.50, $17.73

Crude oil bounce from $52.40 support level

Crude oil maintains the position above $52.40 support level and it bounces from the support today. No change to the outlook of the price which continues to stay inside the bearish channel. When crude oil tests $54.50 or the top of the channel, traders could start looking for short positions.

Today critical level to watch:

Support: $52.40

Resistance: $54.50, $55.80, $57.60