Daily Oil, Gold, Silver Technical Analysis | April 02, 2024

Gold more record high

The bullish trend of gold prices continues with the formation of a new record high point. This bullish movement will only continue for now and traders who already have long positions will continue to hold them. When a bearish correction occurs, the point around $2,200 can be the focus of traders as a support point.

Today’s critical levels to watch:

Support: $2,143, $2,074, $2,069, $2,000

Resistance:

Silver strong bullish momentum

A sharp increase occurred in the price of silver today where the price reached the $26.00 mark. The test of the $25.00 – $26.00 area appears to be short-lived with a break above that area. Traders who already have long positions, will maintain these positions for now assuming the long-term bullish trend will continue above the $25.00 – $26.00 area.

Today’s Critical levels to watch:

Support: $25.00, $23.90, $23.00

Resistance: $26.00

Crude oil extend upward movement

The price of crude oil climbed above $80.00 and is now halfway to $90.00. This bullish movement will continue and the thing that can invalidate the current bullish trend is a drop below the $80.00 point. Traders should continue to maintain a bullish position for now. If the price start a bearish correction then traders could wait near support level for chance to add long positions.

Today’s critical level to watch:

Support: $80.00, $77.13, $70.00

Resistance: $85.00, $90.00

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