Gold no change in the outlook

Gold stick inside $1,480 – $1,500 consolidation range and expected to close inside the range by the end of the week. No change to the outlook for now. We are waiting for either breakout above the channel or continuation of bearish trend inside the channel.

Today critical levels to watch:

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

Resistance: $1,500, $1,550

Silver closed near $17.50

No breakthrough in silver price direction yet. The price moves upward and closed near $17.50. It has not shown any rejection or breakout from the top trendline and $17.50 – $17.73 range. At the current time, traders will continue to monitor the price reaction at the resistances.

Today Critical levels to watch:

Support: $17.50, $17.00, $16.80

Resistance: $17.73

Crude oil bullish correction toward $54.50

A bullish correction is under progress in crude oil prices. The price moves upward from $52.40 support level and soon will reach $54.50 and the top of the channel. We expect crude oil will continue its bearish trend inside the channel. Traders could prepare for short positions near both resistances.

Today critical level to watch:

Support: $52.40

Resistance: $54.50, $55.80, $57.60