Gold forecast

Comex gold price trading at 1313$, Precious metals are trading in a small range since yesterday. A good support on this major precious metal stands at 1305$, If traders tank this base and manage to sustain trade below our support. Then expect good pressure in gold price upto 1300$- 1291$ today.

A good resistance on this precious metal stands at 1322$, If traders take this hurdle out and manage to sustain trade above our resistance. Then expect good recovery in gold price upto 1330$- 1338$.

Gold forecast conclusion: Comex gold trend is flat to positive for now.

Silver support stands at 16.30$, Resistance at 16.75$. Trend is flat to positive for now.

Crude oil forecast

Crude oil trading above 71.50$, we mentioned in our weekly forecast (newsletter) that oil is looking positive. It remain rock steady and currently sailing in a positive range. You may also get our weekly forecast by subscribing our newsletter for free here

A good support on this major commodity stands at 70$, If traders take this base out and manage to sustain trade below our support. Then expect good pressure in oil prices upto 69.20$- 68.10$ today.

A good hurdle on this major commodity stands at 72.30$, If traders take this hurdle out and manage to sustain trade above our resistance. Then expect good firepower in crude oil upto 73.70$- 74.90$.

Crude oil forecast conclusion: Oil trend is positive for now.

Dollar Index forecast

Dollar basket trading at 92.50, It almost tested 93 yesterday and now trying to cool off a bit. A good base in dollar stands at 92.10, If traders break this major base and manage to sustain trade below our support. Then expect more pressure in dollar upto 91.70$ – 91.40$ today.

A good hurdle on dollar chart stands at 93.05, If traders break this hurdle and manage to sustain trade above our hurdle. Then expect more firepower in dollar basket upto 93.30- 93.60.

Dollar forecast conclusion: Dollar trend is positive for now but more profit booking not ruled out. Better not buy on these levels.

You may follow us on twitter

More will update to our signals subscribers.

By marafat

One thought on “Crude oil, Gold forecast May 10, 2018”

Comments are closed.