Daily Oil, Gold, Silver Technical Analysis | September 30, 2022

Gold continue upward to $1,680 – $1,700?

Gold prices made a neutral close yesterday after initially being under bearish pressure. The price might attempt to move upward again to target the $1,680 – $1,700 area. Traders will continue to monitor the price movement near the current level for now. If the price could close above $1,700 then we might see a bullish continuation toward the $1,780 – $1,800 area.

Today’s critical levels to watch:

Support: $1,600, $1,585

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

Silver consolidating near $18.50?

Silver prices traded sideways yesterday near the $18.50 level—no bullish continuation after Wednesday’s bullish close. We might see the price continue consolidating near the $18.50 level until the weekly closing. Traders will monitor the price reactions near the current level. If the price continues trading upward then $20.00 is the level to watch as the resistance level.

Today’s Critical levels to watch:

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

Resistance: $20.00, $21.35

Crude oil continues toward $85.00.

There is no bullish continuation in yesterday’s trading session. Crude oil prices mostly sideways and closed near the opening level. If the price continues moving upward then it will test the $85.00 level. On the other hand, further weakness from the current level and a new lower low below $77.13 is a bearish continuation confirmation.

Today’s critical level to watch:

Support: $77.13

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

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