Gold
Gold continuing its bull run and making new highs every day. Yesterday it fired from 1216$ to 1233$. It took major resistance of 1228$ and sustained above that level. Currently xauusd is retracing at 1226$ but still market is in positive zone for now.
Last night US deficit numbers came and it might fueled gold price once again. US deficit increased by 17% and its on 6 years high. President Trump cut corporate tax which has caused the most surge in deficit. Rising interest rate is also contributing in higher deficit.
Good support in gold chart stands at 1218$, Once traders break and sustain below this level. Then expect good pressure in xauusd till 1208$- 1200$.
Resistance in gold price stands at 1236$. If traders break and sustain above our hurdle today. Then expect good rise till 1244$- 1250$.
Silver
Silver price trading flat to positive. Xagusd is not showing any major move and trading almost flat. Currently xagusd fix at 14.67$. Good support in silver stands at 14.48$. If market break and sustain below this level. Then expect good pressure till 14.27$- 14.05$.
Resistance in silver stands at 14.92$. If traders break and sustain above our resistance. Then expect good rise in xagusd till 15.12$- 15.35$.
Crude oil
Nymex crude oil trading higher after it crashed yesterday. We enjoyed this crash as our subscribers were in sell on our sell signal. Currently trading at 71.75$. Good support in oil prices stands at 71.20$. If market break and sustain below this level. Then expect good pressure till 70.50$- 70$.
Resistance in crude oil price stands at 72.20$. If market break and sustain above our resistance. Then expect good rise till 72.80$- 73.40$.
Euro
Euro made high of 1.1606 yesterday, our forex signal target was 1.1605. After high it crashed badly as dollar index took U turn from lows. Currently eurusd trading at 1.1567. Good support in euro stands at 1.1530. If market break and sustain below this base. Then expect good pressure in euro till 1.1500- 1.1460.
Resistance in euro stands at 1.1610. If traders break and sustain above our resistance. Then expect good rise till 1.1670- 1.1720.
Conclusion
Comex Gold, Silver trend is positive but precious metals has fired too much so expect a mild retrace before joining bull club again. Crude oil is positive. Euro is flat to weak.
Click here to join our live chat room for more live updates on market.