Gold consolidation between $1,500 and top of the channel

In the previous week, gold manages to maintain the position above $1,500 handle. However, the price could not break out above the top of the bearish channel. It means the precious metal might continue its consolidation between both technical indicators. At the current time, there is no momentum movement and traders could expect further consolidation.

Today critical levels to watch:

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

Resistance: $1,550

Silver closed the week at $17.50

Bearish rejection from $17.50 – $17.73 brought silver lower. But, the precious metal manages to secure a close at $17.50 resistance and suggesting a further upward test. At the current time, the price continues to stick near $17.50 and will continue to test the resistance level.

Today Critical levels to watch:

Support: $17.00, $16.80, $16.50

Resistance: $17.50, $17.73

Crude oil bullish bounce under progress

Crude oil reacted bullishly at the $52.40 support level and the bottom of the channel. The price might continue upward this week and target the top of the channel and $54.50 resistance. Today, we have a lower opening but the bull immediately brings the price upward. Will we see a higher close above Friday candlestick high?

Today critical level to watch:

Support: $52.40

Resistance: $54.50, $55.80, $57.60