Gold price forecast May 14, 2018

By | May 14, 2018

Gold price forecast

Comex gold price trading at 1321$, It opened higher and now trading with good strength. Its firing as dollar index has started sinking again and currently trading at lowest point of the day. A good support on daily gold chart stands at 1315$, If traders take this base out and manage to sustain trade below our support. Then expect good pressure in gold price upto 1307$ – 1300$.

A good resistance on this major commodity stands at 1328$, If traders take this hurdle out and manage to sustain trade above our resistance. Then expect good firepower in gold price upto 1337$ – 1343$.

Gold price forecast conclusion: Gold trend is positive for now, avoid selling and buy in dips.

Silver support stands at 16.48$, Resistance at 16.92$. Trend is positive for now.

Crude oil analysis

Crude oil trading at 70.40$, Oil facing profit booking for now and continuing its negative territory. A good base on this major commodity stands at 69.80$, If traders take this base out and manage to sustain trade below our support. Then expect good pressure in oil price upto 68.80$ – 67.50$.

A good hurdle on this major commodity stands at 71.20$, If traders take this hurdle out and manage to sustain trade above our resistance. Then expect good rise again in crude oil upto 72.30$- 73.30$.

Crude oil analysis conclusion: For now oil looking weak avoid major buy till resistance is intact.

Euro forecast

Euro trading at 1.1958, A good support on this major forex pair stands at 1.1930, If traders take this base out and manage to sustain trade below our support. Then expect good pressire in euro upto 1.1900- 1.1870 today.

A good hurdle on this major forex pair stands at a 1.1990, If traders take this hurdle out and manage to sustain trade above our resistance. Then expect good firepower in euro upto 1.2030- 1.2070.

Euro trend is flat to positive for now.

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