Daily Oil, Gold, Silver Technical Analysis March 13, 2018

Gold trapped below $1,325

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The price of gold stays below $1,325 for three days since it lost the level in the previous week. The bull attempt to move higher today, but no success yet as the price take downward turn. There is no change in the projection, gold expected to continue its movement inside the blue channel.

Today critical level to watch:

Support:  $1,300

Resistance: $1,325, $1,337, $1,340

Silver stick at $16.50

 

Silver might be one of the boring pairs to trade at the current time. The price has stalled inside four weeks range and might continue trading inside it for the meantime. There are not many traders could do aside from trading the range for now.

Today critical level to watch:

Support: $16.50, $16.00

Resistance: $16.80, $17.00

Crude oil follow triangle range

Crude oil might move inside sideway triangle range this week which suggest traders stay sideline as the triangle range slowly compress. Wait until the range broken and the new trend settled before placing position. The key for bearish movement is the breakout and close below $59.00 – $60.00 area. On the other hand, bullish trend will rely on the breakout of $62.80 resistance.

Today critical level to watch:

Support: $60.00, $59.00

Resistance: $62.50, $62.80, $65.00, $65.78

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