Daily Oil, Gold, Silver Technical Analysis | September 23, 2022

Gold more bearish pressure

Gold prices moved with high volatility after the Fed interest-rate announcement. At the current time, gold prices come under bearish pressure and might break out to continue the bearish movement. If the price continues its bearish movement, it might target the $1,585 – $1,600 area.

Today’s critical levels to watch:

Support: $1,600, $1,585

Resistance: $1,680, $1,700, $1,780, $1,800

Silver trading sideways

Silver prices mostly traded sideways after the announcement of the Fed interest rate. No significant swing movement in the middle of the $18.50 – $20.00 area. Traders will continue waiting for the price to move and close outside of the range to confirm the next direction. If the price could form a higher low above $18.50 then we might see a bullish continuation to print a higher high.

Today’s Critical levels to watch:

Support: $18.50, $17.73, $17.50, $16.00

Resistance: $20.00, $21.35

Crude oil extends the bearish movement?

Crude oil prices could not secure a close above the $85.00 handle and are currently under bearish pressure. It seems the price will continue the bearish movement and target $80.00 also the $77.13 support level. Traders will wait near the resistance level for a chance to enter short positions or waiting near $77.13 – $80.00 for a bullish reaction to enter long positions.

Today’s critical level to watch:

Support: $80.00, $77.13

Resistance: $85.00, $90.00, $95.25

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