Support And Resistance Flip Strategies - Daily Oil, Gold, Silver Technical Analysis | July 28, 2023
Gold prices experienced bearish pressure and closed below $1.953 yesterday. Although bearish, at the moment the price looks to be moving up and sticking near the $1,953 point. If the gold price continues its slide then the $1,900 spot will be a downside target. In the long term, the price of gold is expected to continue its bullish movement and form new record highs. Today’s critical levels to watch: Support: $1,950, $1,900, $1,850 Resistance: $2,000, $2,069, $2,074 Silver prices experienced a rejection from the point of $25.00 and closed not far from $23.90. A decline in the silver price is still possible with the $23.00 – $23.90 area as a downside target. Traders will watch for the reaction of the silver price in the area of $23.00 – $23.90. If there is a bullish reaction, traders can enter long positions. Today’s Critical levels to watch: Support: $23.90, $23.00, $21.35, $20.00 Resistance: $25.00, $26.00 Crude oil prices have made a close above $77.13 and also the trendline. The trend of crude oil prices is bullish and traders will now use any decline in the price as an opportunity to enter long positions. The $77.13 point as well as the trendline is a place where traders can consider long positions. Today’s critical level to watch: Support: $70.00, $65.00 Resistance: $77.13, $80.00, $85.00
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