Daily Oil, Gold, Silver Technical Analysis | January 20, 2022

Gold moving upward to $1,850

Gold prices launched upward yesterday and closed not far from the $1,850 resistance level. There is a bullish continuation today and the price almost touches the resistance level. Under the current situation, traders will continue to stick with long positions and wait for a bearish correction to add more long positions.

Today critical levels to watch:

Support: $1,800, $1,780

Resistance: $1,850, $1,953, $2,000

Silver resume bullish movement toward $25.00 – $26.00

We have written that silver prices will continue the bullish movement if it could break and close above the yellow box area. Yesterday we have a breakout and close above the yellow box area. Today, the price continues the bullish movement and soon will reach the $25.00 – $26.00 area. A breakout and close above the $25.00 – $26.00 area will confirm a long-term bullish continuation.

Today Critical levels to watch:

Support: $23.00, $21.35, $20.00

Resistance: $23.90, $25.00, $26.00

Crude oil stay on bullish track

The higher swing high has been printed on the crude oil chart. The only direction is up now and traders will wait for a bearish correction to enter more long positions. On the lower side, $82.72 and $85.00 are the levels to watch for long positions. Traders who look for short positions might want to wait near $90.00 or $100.00 for a short-term correction.

Today critical level to watch:

Support: $85.00, $82.72, $80.00

Resistance: $90.00, $100.00

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