Daily Oil, Gold, Silver Technical Analysis August 22, 2019

Gold hanging near $1,500

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Not much movement seen in gold prices yet. The price made another close near $1,500 and expected to consolidate near the level. On the long-term, gold still has the chance to move further higher and target $1,550. However, it is also possible for the precious metal to pullback below $1,480 before it continues upward.

Today critical levels to watch:

Support: $1,500, $1,480, $1,450, $1,430

Resistance: $1,550

Silver stick near $17.00

Similar to the gold movement, the price of the silver stick near the major level $17.00 waiting for a trigger. At the current time, traders might want to stay sideline and prepare for long positions whenever pullback happens.

Today Critical levels to watch:

Support: $17.00, $16.80, $16.50

Resistance: $17.50

Crude oil lower close but maintain the level above $55.80

Crude oil moved upward and almost touch $57.60 resistance and the top of the channel. However, the price reversed and closed the day below the opening level. No clue on the next direction yet, but as long as the price close above $55.80, there is chance crude oil will reach $57.60 and the top of channel soon.

Today critical level to watch:

Support: $55.80, $55.00, $54.50

Resistance: $57.60

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