Daily Oil, Gold, Silver Technical Analysis July 01, 2020

Gold moving further upward above $1,780

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The upward movement of gold prices has not stopped yet. Yesterday, the price closed near $1,780. Today, there is a bullish attempt above $1,780 which might lead the price further upward to target $1,800. Trades who has long positions could continue to hold the positions. Meanwhile, short positions is not suggested until the precious metal formed a major bearish pattern.

Today critical levels to watch:

Support: $1,750, $1,700

Resistance: $1780, $1,800

Silver launched toward $18.50

We have a bullish jump in the silver prices. The price launched from $17.73 and closed higher yesterday. It continue the bullish pressure and soon will reach $18.50 resistance level. Under the current situation, it seems the silver prices could continue its upward movement and breakout above $18.50.

Above the $18.50 resistance, there is $20.00 to target.

Today Critical levels to watch:

Support: $18.00, $17.73, $17.50

Resistance: $18.50, $20.00

Crude oil more bullish movement near $40.00

Crude oil prices maintain the bullish pressure near $40.00 handle. The price continues moving upward today and might close above $40.00. If it could move above previous week high then traders will assume the price will extend the bullish movement toward $50.00.

Today critical level to watch:

Support: $38.50, $35.00, $34.36

Resistance:  $40.00

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