Daily Oil, Gold, Silver Technical Analysis | February 23, 2021

Gold closed above $1,800

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We have another bullish close on gold prices. The price climbed and closed above the $1,800 level and expected to continue its gain. On the upside, there is a bearish trendline to watch for possible rejection. If the trendline has broken then gold will test $1,850 and the daily SMA 200 next.

Today critical levels to watch:

Support: $1,800, $1,780

Resistance: $1,850, $1,900

Silver extended a bullish close

Silver price bounced from $26.00 and printed a bullish pin bar pattern. The price continues to add more bullish pressure and a breakout above the pin bar high. Without any change in the sentiment, the silver price is expected to continue moving upward to target $30.00 and $31.50 resistance level.

Today Critical levels to watch:

Support: $27.00, $26.00, $25.00, $21.35, $20.00

Resistance: $30.00, $31.50

Crude oil strong bullish momentum above $60.00

Crude oil prices closed lower for two days and below $60.00 last week. However, the bearish pressure reversed and crude oil climbed with strong momentum yesterday. The price continues its upward movement today and will seek to target $65.00 then $70.00 resistance level.

Today critical level to watch:

Support: $60.00, $57.60

Resistance: $65.00

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