Gold consolidation inside the channel

Gold bounced from the bottom of the channel and manage to close near $1,500 handle. The precious metal might continue its upward movement and target the top of the channel. Traders will observe the reaction at $1,500 and the top of the channel to determine gold next direction.

Today critical levels to watch:

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

Resistance: $1,500, $1,550

Silver testing $17.50 – $17.73 resistance

Silver follows the gold movement upward. The price closed near the resistance area $17.50 – $17.73. No reaction yet from the resistance area. Silver might continue upward and test the top trendline before the reverse direction. Currently, traders will observe the price reaction at  $17.50 – $17.73 area.

Today Critical levels to watch:

Support: $17.00, $16.80, $16.50

Resistance: $17.50, $17.73

Crude oil further weakness toward the bottom of the channel

No stop yet to the weakness in crude oil prices. We have the price hit $52.40 support yesterday and risk further weakness. Currently, the price attempting to hold out above the support level. Will it bounce from the support level and target $54.50? Alternatively, will it continue the weakness toward the bottom of the channel?

Today critical level to watch:

Support: $52.40

Resistance: $54.50, $55.80, $57.60