Gold break above $1,500

Gold managed to climb and close above $1,500 handle yesterday. The price looks close above the bearish channel too. However, there is no bullish continuation yet today and it seems the price might close near both resistance levels. Traders will wait for a further clue on gold next direction. Without major bullish close above both resistances level then gold might return inside the bearish channel range again.

Today critical levels to watch:

Support: $1,500, $1,480, $1,450, $1,430

Resistance: $1,550

Silver breakout above $17.73

After prolonged consolidation near $17.50 – $17.73, finally, silver start moving higher above the resistance area. The price might continue upward and reach $18.50. At the current time, traders will wait for pullback to enter long positions.

Today Critical levels to watch:

Support: $17.73, $17.50, $17.00

Resistance: $18.00, $18.50

Crude oil launched above $55.80

The price of crude oil attempted to move further higher yesterday. But at the end of the day, the price settle near the Wednesday high which provide a neutral outlook. No bullish continuation yet today and we might see the price settle near $55.80. Traders could look for long positions near $54.50 and $55.80.

Today critical level to watch:

Support: $55.80, $54.50, $52.40

Resistance: $57.60, $59.50, $60.00