Gold target the resistance $1,550

The bounce from $1,480 – $1,500 support level gain traction and gold move further higher today toward $1,550 resistance. We think the precious metal will reach the resistance level soon. Traders could prepare for short positions when there is a bearish reaction from the resistance level.

Today critical levels to watch:

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

Resistance: $1,550

Silver looking to secure a close above $18.50

A close above $18.50 resistance happened yesterday which confirmed the new bullish leg. But, it is up to the bull to maintain current bullish pressure or not. Silver currently traded near $18.50 and looks will close the day above the level.

Today Critical levels to watch:

Support: $18.50, $18.00, $17.73

Resistance: $20.00

Crude oil pushed lower by the bear

Crude oil mostly under pressure today as the price tumble below $57.60 support level. We could see a bearish momentum candlestick which fall below previous day low. A close below the low is a confirmation that crude oil will continue further lower and target $55.80.

Today critical level to watch:

Support: $55.80

Resistance: $57.60, $60.00, $65.00