Gold
Gold price got a small push from bad stock market. Yesterday Dow Jones Index lost more than 1000 points in single section. White house representative had to clarify about market selling. It was one of the worse selling this year which scared investors and pushed them to exit equity markets.
Severe selling in stock markets around the world literally forced investors to shift some of money in gold which pushed yellow metal prices a little. Even now gold is not doing that good which should have been after this kind of fall in stock markets.
One reason for that is firm US dollar. Dollar Index is flat to little red since yesterday despite bloodbath in equity markets. One reason is their confidence in greenback is still intact.
Equity market maybe loosing rapidly since yesterday but investor’s confidence is still intact in dollar. Gold wont go anywhere till dollar is standing like rock since April in its way.
For now technical chart has a good support in gold price at 1184$. Once traders take this base out and manage to sustain below our support. Then expect good pressure in xauusd till 1178$- 1170$.
Resistance in gold price stands at 1202$. If traders break and sustain above this hurdle today. Then expect good rise in xauusd price till 1209$- 1218$.
Silver
Silver price is under pressure since yesterday. Despite good rise in yellow metal silver is unable to rise and trading under pressure since yesterday. Currently price is fix at 14.29$. Resistance in xagusd stands at 14.55$. If traders break and sustain above our resistance. Then expect good rise till 14.80$- 15$.
Good support in silver price stands at 14.10$. If traders break and sustain below this level. Then expect good pressure till 13.90$- 13.70$.
Crude oil
Nymex crude oil price crashed yesterday after our sell signal. I gave this free signal in chat room as well and our chat room visitors enjoyed more than $600 profit in standard lot. Click here to join chat room for free. Currently oil price fix at 72.10$. If traders break and sustain below this level. Then expect good pressure till 71.50$- 71$ today.
Resistance in crude oil prices stands at 73.20$. If market break and sustain above our resistance. Then expect good rise till 73.80$- 74.50$.
Euro
Euro tested 1.1570 in early morning session and currently trading at 1.545. Eurusd trading higher since yesterday due to flat to weak dollar. Good resistance in this forex pair stands at 1.1490. If traders break and sustain below this level. Then expect good pressure in euro till 1.1450- 1.1400.
Resistance in euro chart stands at 1.1580. If market break and sustain above our resistance. Then expect good rise till 1.1620- 1.1660.
Conclusion
Comex Gold trend is positive for now. Silver is flat to weak. Crude oil is extremely weak, avoid buy in this commodity. Euro is flat to positive for now.
More will update to our signals subscribers.