Daily Oil, Gold, Silver Technical Analysis December 3, 2019

Gold bounced from the top of channel

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Gold might continue its bullish breakout from the channel as the price manage to bounce from the channel yesterday. Today, the bull has brought the price above the previous day high. If the bullish pressure continue then gold might target $1,480 – $1,500 area.

Today critical levels to watch:

Support: $1,450, $1,430

Resistance: $1,480, $1,500, $1,550

Silver having trouble breaking out from $16.80 – $17.00 area

The price of silver continues trapped inside a $16.80 – $17.00 range. In the previous day, the precious metal has strong bearish pressure but at the end of the day, the bear could not create a breakout. At the current time, silver expected to continue its ranging movement inside $16.80 – $17.00.

Today Critical levels to watch:

Support: $16.80, $16.50

Resistance: $17.00, $17.50, $17.73

Crude oil maintain the position above $55.80

Crude oil attempted to bounce from $55.80 yesterday. The effort initially produces a bounce and crude oil manage to reach as high as $56.67 before move back lower to settle at $55.98. Today, the price makes another bullish attempt but no movement outside of the previous day range yet.

Will crude oil start moving bullishly and reach $57.60?

Today critical level to watch:

Support: $55.80, $54.50

Resistance: $57.60, $59.50, $60.00

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