Daily Oil, Gold, Silver Technical Analysis August 12, 2020

Gold holding above $1,900

Free $100 Forex No-Deposit Bonus

Gold pushed lower below $2,000 and closed near $1,900. It is a major bearish close and there is bearish follo-through in the today trading session. Gold managed to reach as low as $1,862.59 before bounce higher. At the current time, gold prices has climbed above $1,900 and the opening level.

We might see the price closed higher near the $1,950.

Today critical levels to watch:

Support: $1,950, $1,900

Resistance: $2,000, $2,050

Silver trading between $25.00 – $26.00

Silver prices sharply lower yesterday under bearish correction. The price closed below $25.00 and suggesting further weakness. There is bearish follow-through today but the bull manage to reverse the bearish pressure and bring the price to trade inside $25.00 – $26.00.

No confirmation yet on the next direction. Silver might attempt to consolidate between $25.00 – $26.00 for now.

Today Critical levels to watch:

Support: $25.00, $21.35

Resistance: $26.00, $30.00

Crude oil looking to continue bullish trend

Crude oil printed higher high yesterday but could not close the day on the positive side. The price closed lower but no movement below the previous day low yet today.

As long as the price could maintain the positions above $38.50, the bullish trend expected to continue.

Today critical level to watch:

Support: $40.00, $38.50

Resistance: $49.00, $50.00

Copyright © 2020. All Rights Reserved. FXDailyReport.Com
Risk Warning: Trading CFDs is a high risk activity and you may lose more than your initial deposit. You should never invest money that you cannot afford to lose. FXDailyReport.com will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets.