Daily Oil, Gold, Silver Technical Analysis | June 23, 2022

Gold continue trading sideway

The consolidation near the daily SMA 200 has not ended yet. Gold prices stick near the daily SMA 200 and $1,850 level. Traders will continue waiting patiently for both levels’ reactions to get clues on the next direction. At the current time, the gold prices range movement looks to tighten. We might see major momentum movement after the current ranging movement.

Today critical levels to watch:

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

Resistance: $1,900, $1,953

Silver keep moving near $21.35

Silver prices undergo consolidation near the $21.35 support level without many reactions. The price might continue trading sideways near the current level while waiting for the catalyst to move. Traders will wait for strong momentum movement away from the $21.35 level to get confirmation on the next direction.

Today’s Critical levels to watch:

Support: $21.35, $20.00

Resistance: $23.00, $23.90, $25.00, $26.00

Crude oil closed below $106.00

Crude oil broke and closed below the $106.00 level yesterday. The bearish close has no follow-up in today’s trading session. Crude oil prices attempting to recover above the $106.00 level and might stick near it for now. Traders will observe the price movement between $100.00 – $106.00 for now.

Today’s critical level to watch:

Support: $100.00, $95.25, $90.00

Resistance: $106.00, $130.00

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