Daily Oil, Gold, Silver Technical Analysis | June 11, 2021

Gold maintains the close near $1,900

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There was a bearish reaction from the yellow box area yesterday. Fortunately, gold prices could stage recovery and closed inside the yellow box area or near $1,900 at the end of the day. No change to the bullish outlook of gold prices yet. Traders could expect gold prices to continue its bullish trend above $1,900 and target $1,950 also $2,000.

Today critical levels to watch:

Support: $1,850, $1,800, $1,780

Resistance: $1,900, $1,950, $2,000

Silver bounce from $27.50

Silver prices made a bullish reaction from the $27.50 support level and there is bullish follow-through today. In the medium-long term, we expect the price to target $30.00 and $31.50 handle. At the current time, no change to the strategy, traders will continue to hold long positions with a stop below $27.00 or previous swing low.

Today Critical levels to watch:

Support: $27.00, $26.00, $25.00, $21.35, $20.00

Resistance: $29.00, $30.00, $31.50

Crude oil avoided bearish reaction

Crude oil prices pushed lower yesterday and might started a bearish correction. However, the price stage a recovery and managed to close the day above its opening level. At the current time, the price might continue its consolidation before continuing its bullish trend to target the next resistance level.

Today critical level to watch:

Support: $67.20, $65.00, $60.00

Resistance: $70.00, $77.13

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