Daily Oil, Gold, Silver Technical Analysis June 17, 2019

Gold bearish reversal pattern

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Gold managed to print fresh yearly high, but end the previous week trading session with a major bearish reversal pattern. The pattern has not confirmed yet this week and it is possible that it will not be confirmed. Currently, gold testing $1,337 support level and looking for a bounce. If the bull manages to defend the support level then we might see gold start rallying higher.

Today critical levels to watch:

Support: $1,337, $1,325, $1,320, $1,300

Resistance: $1,380, $1,390

Silver rejection from $15.0

Another rejection happened in silver price near $15.00. We have a bearish pin bar pattern on the daily chart and suggesting further weakness if the pattern confirmed. At the current time, silver traded inside previous Friday range. No breakout and no indication yet on the next direction.

Today Critical levels to watch:

Support: $14.80, $14.40, $14.00

Resistance: $15.00

Crude oil not much movement from $52.40

Not much movement yet in crude oil near $52.40. The price sticks near the support level and waiting for the next direction. Without any change in the sentiment then crude oil expected to continue lower and test $50.00 support level. On the upside, a breakout above $54.50 will change the trend into bullish.

Today critical level to watch:

Support: $50.00

Resistance: $52.40, $54.50, $55.00

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