Daily Oil, Gold, Silver Technical Analysis February 22, 2018

Gold find support at $1,325

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Traders who took a long position at $1,325 or the top of the blue channel could feel relaxed as the bull push the price higher today. The close above $1,325 might be the first sign of new rally brewing. Traders could leave the stop level below massive bullish candlestick in the previous week, alternatively moving stop below today low is an okay too.

Today critical level to watch:

Support:  $1,325

Resistance: $1,337, $1,340, $1,360

Silver continue directionless

Silver trading without trend as it moves back and forth $16.50 level and made closes near it. There is nothing to expect yet until momentum candlestick formed on the daily chart.

Today critical level to watch:

Support: $16.50, $16.00

Resistance: $16.80, $17.00

Crude oil halted drop before inventory data

Crude oil halted profit-taking after the rejection from $62.80 in anticipation of U.S crude oil inventory data today. The inventory expected to increase 2.2 million barrels. We will update the analysis again after the news release. Traders might want to wait at either $62.80 or $60.00 for new positions.

Today critical level to watch:

Support: $60.00, $59.00, $58.00

Resistance: $62.50, $62.80

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