Gold settle between $1,480 – $1,500

Gold prices experienced major bullish bounce yesterday, but the upward movement lost momentum and the precious metal slide back below $1,500. The price close between $1,480 – $1,500 again which mean the consolidation inside the range will continue.

At the current time, gold slightly higher above $1,500. Will it close above $1,500 and move higher toward $1,550?

Today critical levels to watch:

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

Resistance: $1,500, $1,550

Silver neutral state at the middle of $17.73 – $18.50

Silver launched upward toward $18.50 yesterday, but the bullish movement experienced rejection and silver closed at its opening level. It is a neutral close and suggesting silver will continue its movement between $17.73 – $18.50. Traders will continue to use the range to take positions with a bullish bias.

Today Critical levels to watch:

Support: $18.00, $17.73

Resistance: $18.50, $20.00

Crude oil further bearish continuation

Crude oil resumes its bearish trend after the close inside the bearish channel. The price fell below $55.80 support level and tested $54.50 support level before settling between both levels. Crude oil might continue its bearish movement and test $54.50 again today. Traders will observe where the price close at the end of the week. A breakout below $54.50 will trigger further selling toward $52.40.

Today critical level to watch:

Support: $55.80

Resistance: $57.60, $59.50 – $60.00