Daily Oil, Gold, Silver Technical Analysis October 23, 2019

Gold maintain the position inside $1,480 – $1,500

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Gold closed inside $1,480 – $1,500 range again and show no sign of breakout from the range yet. No change to the outlook yet, traders will expect the precious metal to continue its ranging movement inside the range. It is possible for gold to breakout lower below $1,480 and continue the bearish trend inside the channel.

Today critical levels to watch:

Support: $1,480, $1,450, $1,430

Resistance: $1,500, $1,550

Silver stick near $17.50 – $17.73

No movement away from $17.50 – $17.73 range yet in silver prices. The price might continue to stick near $17.50 – $17.73 for now waiting for a reaction. Traders will continue waiting sideway until either breakout or rejection happen.

Today Critical levels to watch:

Support: $17.50, $17.00, $16.80

Resistance: $17.73

Crude oil testing $54.50 resistance

The price of crude oil turned upward yesterday and tested $54.50 resistance. Crude oil might continue stick near $54.50 and testing it. We think the price will continue its ranging movement inside $52.40 – $54.50 and the bearish channel. As long as there is no breakout above the bearish channel then crude oil trend will continue bearish.

Today critical level to watch:

Support: $52.40

Resistance: $54.50, $55.80, $57.60

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