Daily Oil, Gold, Silver Technical Analysis | April 08, 2021

Gold new higher high

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Gold prices finally printed a higher high in today’s trading session. The price is expected to continue its bullish movement and target the $1,780 – $1,800 resistance level. Traders who have long positions will continue to hold the positions for now. If the price could close above $1,800 then the long-term trend will turn into bullish again.

Today critical levels to watch:

Support: $1,700, $1,680, $1,550, $1,500

Resistance: $1,780, $1,800

Silver extend bullish movement above $25.00

The upward movement of silver prices continues after the price stalled at the $25.00 resistance level. At the current time, the silver price has returned inside the $25.00 – $26.00 range and might consolidate inside it. Traders will wait for further bullish confirmation above $26.00 to confirm the long-term bullish trend.

Today Critical levels to watch:

Support: $25.00, $21.35, $20.00

Resistance: $26.00, $27.00, $30.00, $31.50

Crude oil limited near $60.00

There is no major development in crude oil price movement yet. The price continues trading near $60.00 and might close the week near it. Traders will continue to hold long positions while expecting a bullish bounce to happen in crude oil prices.

Today critical level to watch:

Support: $60.00, $57.60, $55.80, $54.50

Resistance: $65.00, $67.20, $70.00

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