Daily Oil, Gold, Silver Technical Analysis April 16, 2018

Gold more bullish opportunity

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Gold upward movement rejected from the multiple highs level and tested $1,337 broken resistance level. The bull manages to close the week above $1,337 after initially looks will break below. Currently, the precious metal has a red bullish channel where the price expected to move next. Traders could use the bottom of the channel and $1,337 support level to look for a long position.

Today critical level to watch:

Support: $1,337, $1,325, $1,320

Resistance: $1,340, $1,350, $1,360

Silver no decisive price close

The price of silver broke above the triangle pattern on the daily chart but immediately sold by the bear and back inside the triangle. At the end of the week, there was bullish attempt but not enough to produce decisive price close above the triangle pattern.

This week, the price of silver might continue its sideways movement inside the triangle or make a confirmation breakout by moving toward $16.80 resistance.

Today critical level to watch:

Support: $16.50, $16.30, $16.00

Resistance: $16.80

Crude oil breakout, next what?

Crude oil has broken the resistance and print new 2018 high. The trend is bullish, but will the bull push the price further upside from current level? Depend on the market, and traders could use $65.78 level as the level to look for a long position.

Today critical level to watch:

Support: $65.78, $65.00, $62.80

Resistance: –

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