Daily Oil, Gold, Silver Technical Analysis | October 04, 2022

Gold climb above $1,700

Gold prices made a bullish close yesterday and managed to close the day inside the $1,680 – $1,700 area. At the current time, the price continues building bullish pressure and testing the $1,800 handle. A breakout and close above the area will confirm upward continuation toward the $1,780 – $1,800 area.

Today’s critical levels to watch:

Support: $1,680, $1,600, $1,585

Resistance: $1,700, $1,780, $1,800

Silver sharp bullish movement

The bullish pressure on silver prices managed to break out above $20.00 and close above it. The price continues the upward movement and soon will reach the $21.35 resistance level. A new higher high has been printed which mean traders will expect a higher low next. We think $20.00 or $21.35 might become the level to watch for a higher low.

Today’s Critical levels to watch:

Support: $20.00, $18.50, $17.73

Resistance: $21.35

Crude oil is trading near $85.00

No breakout above the $85.00 resistance level yet in crude oil. The price currently trading upward and will attempt to breakout above the resistance level. If the price could breakout and continue moving upward then $90.00 is the next target. On the other hand, a bearish rejection from the current level and the formation of a new lower low will confirm a bearish continuation.

Today’s critical level to watch:

Support: $77.13

Resistance: $80.00, $85.00, $90.00, $95.25

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