Daily Oil, Gold, Silver Technical Analysis June 12, 2018

Gold near the breakout point

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Gold traded cautiously inside the triangle pattern and getting near breakout point. The price testing bottom of triangle more than the top which could be a hint for a breakout. We will wait until tomorrow the Fed interest-rate decision to see whether there will be momentum movement in gold.

Today critical level to watch:

Support: $1,280

Resistance: $1,300, $1,320, $1,325

Silver claimed $16.80

Silver breakout of stalemate situation between trendline and $16.80 resistance. It is the bull advantage, and the precious metal could continue higher toward $17.00 and red trendline. It is not the time to take a short position even though most major financial instrument under pressure before tomorrow Fed meeting.

Today critical level to watch:

Support: $16.80, $16.50, $16.00

Resistance: $17.00

Crude oil start to ascend

Crude oil formed a bullish candlestick in the previous day after sold in the early session. The bounce from a level near $65.00 followed through by the bull today. However, the green area shown on the left might play a crucial part when the price move near it. Will we see further continuation upward this week?

Today critical level to watch:

Support: $66.00, $65.78, $65.00, $62.80

Resistance: $70.00

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