Today’s Sliver Market News and Updates

Market Outlook

Gold price confirmed breaching 1263.15 level after closing the daily candlestick above it, which pushes the price to rise in the upcoming period, to start the positive targets at 1281.17 and extend to 1299.20. Therefore, the bullish trend will remain suggested for today. Crude oil price shows calm positive trades, holding above 56.70 is important to continue the expected rise, as breaking it will push the price to achieve more bearish correction that its next target located at 55.23 before any new attempt to rise. Copper price continues to continue to renew the attempts for resuming the bullish attack by its repeated stability above the initial support at 3.0800; we will keep our bullish suggestion until reaching the first positive station at 3.2500.

Fundamental News

Gold prices were hovering near two-and-a-half week highs on Thursday, as sentiment on the greenback remained vulnerable despite the vote of a major U.S. tax reform bill and ahead of a string of U.S. economic reports due later in the day.

 

Oil prices were stable on Thursday, supported by falling crude inventories in the United States but capped by output that is fast approaching 10 million barrels per day, a level only surpassed by Saudi Arabia and Russia.

Gold showed sideways to bullish movement and found the major resistance level of 28580. Now if price sustains on a higher level then it will test next resistance level of 28700. On another side, 28420 will be a major support level.

Silver showed sideways to bullish movement and found the major resistance level of 37700. Now if price sustains on a higher level then it will test next resistance level of 38020. On another side, 37300 will be a major support level.

Crude oil showed sideways to bullish movement and found the major resistance level of 3750. Now if price sustains on a higher level then it will test next resistance level of 3786. On another side, 3680 will be a major support level.

Copper showed sideways to bullish movement and found the major resistance level of 457. Now if price sustains on a higher level then it will test next resistance level of 462. On another side, 448 will be a major support level.

 

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