Daily Oil, Gold, Silver Technical Analysis | June 24, 2022

Gold bearish pressure

Gold prices got rejected from the daily SMA 200 and made a bearish close yesterday. The bearish close has no continuation yet in today’s trading session. If the price continues moving lower and closed below yesterday’s low then we might see a bearish continuation toward the $1,780 – $1,800 area.

Today critical levels to watch:

Support: $1,800, $1,780

Resistance: $1,850, $1,900, $1,953

Silver closed below $21.35

Silver prices closed below $21.35 support level yesterday also near the previous swing low. If the price printed a new lower low and closed below yesterday’s low then the bearish trend could continue toward the $20.00 support level. On the other hand, if the price closes above $21.35 at the end of the day then we might see a bullish reversal in the next week.

Today’s Critical levels to watch:

Support: $21.35, $20.00

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

Crude oil consolidation between $100.00 – $106.00

Crude oil prices made a neutral close yesterday. The movement range is contained inside the Wednesday’s range. The price might continue trading inside the $100.00 – $106.00 range now while waiting for a breakout. If the price continues to move lower then it will target the $95.25 level. A close above $106.00 might indicate the start of another bullish leg.

Today’s critical level to watch:

Support: $100.00, $95.25, $90.00

Resistance: $106.00, $130.00

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