Daily Oil, Gold, Silver Technical Analysis November 15, 2018

Gold return to life after a bounce

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A vital bounce happens in gold prices as the precious metal testing $1,200 support level. No breakout below the level and currently the bull is in control. However, the path to the upside might be capped by $1,210 or $1,220 resistance and the red trendline.

Brexit issue might be the contributing factor of bounce in gold. If the situation continues to deteriorate in the UK then we could expect gold to continue its upward movement.

Today critical level to watch:

Support: $1,200

Resistance: $1,210, $1,220, $1,234

Silver revived from below $14.00

The bull found a temporary bottom in silver and started to bounce higher. Although possible bottom might have reached, there is a possibility the precious metal will start to slide down and trigger new sell-off. At the current time, $14.40 is the resistance to watch.

Today critical level to watch:

Support: $14.00,

Resistance: $14.40, $15.00, $15.60

Crude oil first bullish close

Crude oil made first bullish close in the thirteen days which might indicate bounce or possible pause before further sell-off. The price currently drifted higher and reach the bottom of the red channel. Will it continue higher to test $57.60 resistance or drop from the current level?

Today critical level to watch:

Support: $55.00, $54.50

Resistance: $60.00, $61.79, $63.00, $65.00

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