Daily Oil, Gold, Silver Technical Analysis March 15, 2019

Gold unclear direction

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Gold prices swinging up and down from $1,300 handle. Two days ago it closed higher, distancing itself from the level. But, the price suffered sell-off yesterday and closed below $1,300. Today, the price make an upward attempt and has surpassed the $1,300 handle. It seems the price might continue its consolidation near $1,300 and no clear direction yet.

Today critical levels to watch:

Support: $1,300, $1,280

Resistance: $1,320, $1,325

Silver return above $15.20

Silver pressured lower in the previous day and closed below $15.20 support on retest. It is a bearish sign but the market seems has a bullish plan for the precious metal. Silver currently return above $15.20 and almost erase all losses incurred yesterday. Traders could expect more bullish pressure if the price could close above the previous day high.

Today Critical levels to watch:

Support: $15.20, $15.00, $14.40

Resistance: $15.60, $16.00

Crude oil extend uptrend toward $60.00

The bullish trend of crude oil continues after the close above $57.60 resistance. There is no change to the direction yet and it is expected to reach $60.00 resistance soon. Traders could use $57.60 as the level to enter a long position. On the other hand, $60.00 might become the best level to take short positions.

Today critical level to watch:

Support: $57.60, $55.80, $55.00, $54.50

Resistance: $60.00

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