Daily Oil, Gold, Silver Technical Analysis April 17, 2019

Gold closed below $1,280

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Gold closed below $1,280 after holding out above the level since the beginning of the year. The precious metal also prints new yearly low which suggest further weakness on the card. On the daily chart, the closest support level is the trendline. If the bull could not hold the positions above the trendline, then we could expect gold to continue lower toward $1,260 – $1,265.

Today critical levels to watch:

Support: $1,280

Resistance: $1,300, $1,320, $1,325

Silver attempting to climb above $15.00

The price of silver continues unable to close above $15.00 yesterday. The precious metal under risk further weakness below $15.00. But, it is currently climbing above $15.00 and attempting to close above it. If the bull could close the price above $15.00 then it will cancel last week breakout.

Today Critical levels to watch:

Support: $14.40

Resistance: $15.00, $15.20, $15.60, $16.00

Crude oil bounce from trendline

A bounce happened yesterday at the trendline and crude oil closed the day positive. Today, there no strong bullish continuation yet but crude oil expected to reach $65.00 resistance soon. Traders will continue waiting for the reaction near the resistance.

Today critical level to watch:

Support: $60.00, $57.60, $55.80

Resistance: $65.00

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