Daily Oil, Gold, Silver Technical Analysis January 14, 2019

Gold moving sideways

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Daily Oil, Gold, Silver Technical Analysis January 14, 2019

Gold trend has turned bullish for the medium-long term. The precious metal climbed from the previous year low $1,159.79 to as high as $1,298. Currently, the price ranging between $1,280 – $1,300 where traders could use the moment to use ranging strategy. We think long positions is preferred to short positions.

The level near $1,280 and $1,290 could be used as a reference level to take long positions.

Today critical level to watch:

Support: $1,290, $1,280

Resistance: $1,300

Silver no direction yet

Daily Oil, Gold, Silver Technical Analysis January 14, 2019 Daily Oil, Gold, Silver Technical Analysis January 14, 2019

Similar to the situation in gold, the price of silver hanging at the high near resistance. The precious metal could move both ways from $15.60. Short positions look appealing as counter-trend options but traders might want to stick to long positions in the long-term.

Today critical level to watch:

Support:  $15.00, $14.40

Resistance: $15.60, $16.00

Crude oil ready for more bullish attempts

Daily Oil, Gold, Silver Technical Analysis January 14, 2019

The upward movement of crude oil stopped at $52.40 resistance and take a downward turn. We think the bearish movement might test $50.00 before turning upward. Traders could use the level to take long positions with the target at $54.50. If crude oil could climb above $54.50 then it might enter a new long-term bullish trend.

Today critical level to watch:

Support: $50.00, $49.00

Resistance: $52.40, $54.50, $55.00

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