Daily Oil, Gold, Silver Technical Analysis July 11, 2019

Gold ready to break $1,430?

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Gold advanced higher after the Fed Jerome Powell speech sounded dovish. Yesterday, the precious metal jumped from $1,390 to a level near $1,430. It continues higher today but reverse near $1,430 and currently traded near its opening level. No confirmation of rejection from the resistance $1,430 at the current time. Traders will wait until the end of the trading day to determine gold next direction.

Today critical levels to watch:

Support: $1,400, $1,390, $1,380

Resistance: $1,430, $1,450, $1,500

Silver further upward attempt

Although silver manages to bounce from $15.00. The price has yet to distance itself from the $15.20 resistance. Today, the price traded above $15.20 and might add further gain. If at the end of day silver closes below $15.20 then the pair might continue its ranging movement inside the triangle.

Today Critical levels to watch:

Support: $15.20, $15.00, $14.80

Resistance: $15.60

Crude oil major bullish breakout

The price of crude oil climbed above $60.00 resistance in the previous day which mean the bullish trend will continue. Currently, crude oil expected to add gain and target the trendline also $65.00. However, if the bearish correction happens, traders could look for long positions near $60.00 or the support trendline.

Today critical level to watch:

Support: $60.00, $57.60

Resistance: $65.00

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