Gold hanging at the middle of $1,500 – $1,550

Gold manages to eke gain in the previous trading day. The price closed higher but not far from the middle of $1,500 – $1,550 range. At the current time, gold has more bullish odds than bearish. Traders could prepare for long positions when there is a pullback in gold prices toward $1,500. On the other side, $1,550 is the potential level to look for short positions when there are major bearish reactions.

Today critical levels to watch:

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

Resistance: $1,550

Silver stick near $18.50 resistance

Silver started the week with a bullish pressure on $18.50 resistance. The price closed near the resistance and looking to break out above it. No bullish follow-through yet today, the price expected to stick near the resistance and waiting for a reaction.

Today Critical levels to watch:

Support: $18.00, $17.73

Resistance: $18.50

Crude oil holding out above $54.50

No breakout below $54.50 yet, crude oil manage to hold out against bearish pressure yesterday. The price might bounce from $54.50 support and target the top of the channel. However, it is possible that the price breakout below $54.50 and continue its bearish trend toward the bottom of the channel. Traders might want to stick with bearish positions for now.

Today critical level to watch:

Support: $54.50

Resistance: $55.00, $55.80, $57.60