Gold rejection from $1,550

Gold rejected from $1,550 resistance and corrected lower at the end of the previous week. The price expected to continue its uptrend and move near $1,550 again this week. At the current time, traders could continue to add long positions whenever the precious metal pullback lower.

Today critical levels to watch:

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

Resistance: $1,550

Silver testing $18.50 resistance

The upward movement of silver has not stopped yet as the precious metal stick near $18.50 resistance for several days. No major bearish rejection from the resistance which suggests traders avoid short positions for now. Long positions are possible when there is a bearish pullback in the price.

Today Critical levels to watch:

Support: $18.00, $17.73

Resistance: $18.50

Crude oil new bearish leg testing $54.50

Crude oil lost bullish momentum at the end of the previous week and started a new bearish leg. The bearish leg closed below $55.80 support and currently testing $54.50 support level. If there is no bounce happen this week then we could expect breakout below $54.50 and continuation toward the bottom of the bearish channel.

Today critical level to watch:

Support: $54.50

Resistance: $55.00, $55.80, $57.60