Gold stick near $1,550 resistance

Gold made another bullish close in the previous trading day and closed above $1,550 resistance. It is not a major close as the close is not far from the resistance. At the current time, gold corrected lower and might indicate rejection from the resistance level. If the price continues lower then traders could look for long positions near $1,500.

Today critical levels to watch:

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

Resistance: $1,550

Silver target $20.00 resistance

The bullish pressure in silver continue yesterday and the price made further bullish close. Currently, silver traded lower but manage to stay inside the previous day range. If the bull could seize the control and push the price further upward then we might see silver hanging at $20.00 soon.

Today Critical levels to watch:

Support: $18.50, $18.00, $17.73

Resistance: $20.00

Crude oil bullish reversal or temporary bounce?

In the previous day, crude oil stage rally after the bounce from the bottom of the channel. The bullish movement has strong momentum which suggests further upward movement in coming days. However, crude oil projected movement is inside the bearish channel and the price might be limited below the top of the channel.

Traders could prepare short positions near the top of the channel after the price formed a major reversal pattern.

Today critical level to watch:

Support: $55.80, $55.00, $54.50

Resistance: $57.60