Gold possible rejection from the top of the channel

Gold continues its upward movement yesterday but it closed near $1,500 by the end of the day. Today, the price attempt to move upward but lose momentum. It is currently traded below the opening level but above $1,500. If gold could close above $1,500 by the end of the week then it is possible that gold will make another test on the top of the channel.

Today critical levels to watch:

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

Resistance: $1,550

Silver rejection from $17.73

Silver printed a bearish pin bar pattern at the end of the previous day trading session. It is a bearish pattern and confirmed by lower movement today. However, the precious metal has returned near the previous day low. Silver next trend will depend on where the price close at the end of the week. A close below $17.50 or Thursday low is a bearish indication.

Today Critical levels to watch:

Support: $17.00, $16.80, $16.50

Resistance: $17.50, $17.73

Crude oil bullish pattern at $52.40

Crude oil moves lower below $52.40 but managed to reverse and closed the day as a bullish pin bar pattern. The bull follow-through by pushing the crude oil price above the previous day high. A bounce from the bottom of the channel is under progress and we could expect the price to target the top of the channel or $54.50.

Today critical level to watch:

Support: $52.40

Resistance: $54.50, $55.80, $57.60