Gold looking to close below $1,500

Gold bull is in trouble after the bearish reversal before the price could reach $1,550 handle. It is currently testing the support $1,500 and moves below it today. A close below $1,500 or worse $1,480 will trigger new bearish trend in gold and we might see the precious metal move lower toward $1,430

Today critical levels to watch:

Support: $1,480, $1,450

Resistance: $1,500, $1,550

Silver breakout lower?

A rejection from $18.50 resistance happened this week and the price tumbled to $17.73 support level in one day. Silver then continue its downward movement but could not close below $17.73. Today, the price might be able to close below $17.73, $17.50 and the bottom trendline.

No conclusion yet on the direction of silver, it could also reverse before the end of trading day and close inside the triangle pattern.

Today Critical levels to watch:

Support: $17.50

Resistance: $17.73$18.00, $18.50

Crude oil closed the gap and under pressure

Crude oil fell from above $60.00 and has closed the gap it made since previous week bullish open. The price made two day test on the $55.80 support level and produce a bullish reaction. Will crude oil bounce from $55.80 and start a new bullish trend? Alternatively, will it fall below $55.80 and move back inside the bearish channel?

Today critical level to watch:

Support: $55.80

Resistance: $57.60, $60.00, $65.00