Daily Oil, Gold, Silver Technical Analysis | November 02, 2023

Gold waiting inside $1,953 – $2,000

Interest rates are on hold and no future increases are likely. However, gold prices did not move up after the Fed’s announcement. Currently, the price is still ranging between $1,953 – $2,000 and will continue its consolidation. Traders will wait for the price to close outside the movement range to confirm the next direction. For now, traders will still take advantage of the decline that occurs as an opportunity to add to long positions.

Today’s critical levels to watch:

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Support: $1,950, $1,900, $1,850, $1,800

Resistance: $2,000, $2,069, $2,074

Silver stick near $23.00

Silver price made another close near $23.00 and will continue consolidating near that point. Traders will wait for further developments while still holding long positions. Will the price continue to strengthen above the $23.90 level? Or will it turn down to $21.35?

Today’s Critical levels to watch:

Support: $23.00, $21.35, $20.00

Resistance: $23.90, $25.00, $26.00

Crude oil continuation toward $77.13

There is no change in the situation in the price of crude oil, which is currently still moving down to $77.13. In terms of trend, crude oil prices are still in a bullish trend so the decline that occurs is an opportunity for traders to add to long positions.

Today’s critical level to watch:

Support: $85.00, $80.00

Resistance: $90.00, $95.00w

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