Daily Oil, Gold, Silver Technical Analysis November 13, 2017

Gold more struggle

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Gold prices made another close below $1,280 and marked third close below the major level. The bull started the week, but there is no encouraging result yet as the precious metal stays below $1,280. On the daily chart, we could see gold rejected when the price got near blue trendline. If the bear could maintain another close below $1,280, the precious metal might start a slide lower with target daily SMA 200 and the red trend line.

Today critical level to watch:

Support: $1,258, $1,250

Resistance: $1,280, $1,300, $1,313.22, $1337, $1,390

Silver sideway between $16.80 – $17.00

Silver bounced from $16.80 support today, but the price stays limited below $17.00. It is expected to continue the sideways movement between both levels this week and traders could continue trade the range.

Today critical level to watch:

Support: $16.80, $16.50, $16.00

Resistance: $17.00, $17.20, $17.50, $17.73

Crude oil waiting for trigger

The price of crude oil shows not much change compared to previous week. The price trapped between the yellow range and waiting for a trigger for next movement. The sentiment is bullish, but buying at the current level is buying into resistance. It is better for traders to wait until the prices make a deeper correction and enter at a lower level.

Today critical level to watch:

Support: $56.00, $55.23, $54.50, $52.40

Resistance: $60.00, $62.50.

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