Daily Oil, Gold, Silver Technical Analysis July 12, 2019

Gold continue ranging between $1,390 – $1,430

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Daily Oil, Gold, Silver Technical Analysis July 12, 2019

The upward movement of gold rejected from the level near $1,430 yesterday. It seems the price will continue its ranging movement between $1,390 – $1,430 for now. Traders could continue to apply ranging strategies between $1,390 – $1,430 with a bullish bias.

Today critical levels to watch:

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

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

Silver rejection from $15.20

Daily Oil, Gold, Silver Technical Analysis July 12, 2019

In the previous day, silver initially manages to climb above $15.20. But at the end of the day, the price turned lower and closed below its opening level. It is a bearish indication and the price expected to continue moving lower for now. We could see a triangle pattern on the silver chart. Traders will wait for the breakout before placing long-term positions.

Today Critical levels to watch:

Support: $15.00, $14.80

Resistance: $15.20, $15.60

Crude oil further upside

Daily Oil, Gold, Silver Technical Analysis July 12, 2019

No change to the crude oil outlook yet since yesterday. The price expected to continue its upward movement and traders could use $60.00 as a level to look for long positions if the price makes the correction.

Today critical level to watch:

Support: $60.00, $57.60

Resistance: $65.00

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