Daily Oil, Gold, Silver Technical Analysis | November 29, 2021

Gold settled inside $1,780 – $1,800

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Gold prices attempted to bounce from $1,780 – $1,800 area last week. The bounce lost bullish pressure and the price settled inside the $1,780 – $1,800 area. At the current time, the price might consolidate between $1,780 – $1,800 area, waiting for a further trigger.

Last week’s major bearish pressure seems inspired by the announcement of new covid variance and traders will continue to observe the development this week.

Today critical levels to watch:

Support: $1,800, $1,780

Resistance: $1,850, $1,953, $2,000

Silver maintain the close inside the yellow box area

A major bearish movement happened in silver prices last week. Fortunately, the price managed to close the week inside the yellow box area. We might see the price consolidating inside the area and will wait for the further bullish trigger. As long as the price stays inside the area then there is a chance of bullish reversal.

Today Critical levels to watch:

Support: $23.90, $23.00, $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil major setback

New covid variance is a threat to the economic recovery which is reflected in the crude oil prices. Despite the situation, it is too early to judge that the new variant will trigger a massive increase in new cases. Crude oil prices might trade near the $70.00 handle and waiting for a further reaction for now.

Today critical level to watch:

Support: $71.22, $70.00

Resistance: $77.13, $82.72

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