Daily Oil, Gold, Silver Technical Analysis March 27, 2020

Gold restart the bullish trend

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The bearish correction in gold prices immediately reversed yesterday after the test on $1,585 support level. We have a major bullish candlestick close yesterday and the bull only needs to push the price above the previous day high now. If the price continues its bullish movement then $1,680 – $1,700 is the upside target.

Today critical levels to watch:

Support: $1,600, $1,585, $1,550

Resistance: $1,680, $1,700

Silver stick near $14.40

The bullish movement of silver halted near $14.40 after two days close near it. Today, there is a bullish attempt above the $14.40. We think the price will continue to stick near the level with a bullish bias. If a bullish breakout happens then silver expected to target $15.00 – $15.20.

Today Critical levels to watch:

Support: $14.00, $13.00

Resistance: $14.40, $15.00

Crude oil continues consolidation

No clue on the next direction yet, crude oil moving without strong momentum. If the price make bearish correction toward $20.00 then traders could consider entering long positions.

Today critical level to watch:

Support: $20.00

Resistance: $25.00, $28.74, $30.00

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