Latest Gold forecast May 15, 2018

By | May 15, 2018

Latest gold forecast

Comex gold price trading weaker today at 1312$, Price are trading on lower side as dollar index is trading above 92 again. Gold gave a good dip after china posted good yearly industrial production numbers. It came 7% vs 6% previous, even expectation was just 6.4% so it even exceeded expectations with good margin. This is putting pressure on gold price for now. We have avg earning index from UK and retail sales data from US today. Keep an eye on both data.

For now a good support on gold price stands at 1305$, If traders take this base out and manage to sustain trade below our support. Then expect good pressure in gold price upto 1298$ – 1291$ today.

A good resistance on gold chart stands at 1322$, If traders take this hurdle out and manage to sustain trade above our resistance. Then expect good recovery in gold price upto 1330$ – 1342$.

Latest gold forecast conclusion: Gold trend is flat to weak for now.

Euro forecast

Euro trading at 1.1922, Euro cracked after making highs near 1.2000, A good base on this major forex pair stands at 1.1880, If traders take this base out and manage to sustain trade below our support. Then expect more pressure in euro upto 1.1840- 1.1800 today.

A good hurdle on this major forex pair stands at 1.2010, If traders break this major hurdle and manage to sustain trade above our resistance. Then expect good firepower in euro upto 1.2050- 1.2090 today.

Euro trend is flat to weak for now.

Dow Jones forecast

US30 trading at 24825, Yesterday it made high near 25000 but could not cross it and now its trading almost 200 points down from its peak. A good base on wall street stands at 24670, If traders take this base out and manage to sustain trade below our support. Then expect more pressure in dow jones upto 24530- 24400 today.

A good hurdle on DJIA stands at 25050, If traders take this hurdle out and manage to sustain trade above our resistance. Then expect good firepower again in dow jones upto 25180- 25320.

Dow Jones forecast conclusion: Wall Street trend is looking weak for now.

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