Gold
Last night Dow Jones Index crashed below 23000 and tested 23680 before closing near 23000. DJIA has lost more than 3000 points from its peak and continuing its downward journey. We have 6 trading days left this year and we assume DJIA closing near 23000. Then It would go down as a bad year despite testing 26000.
Weaker job numbers and hawkish fed is breaking the confidence of investors. Trade war between US and China is icing on the cake for sellers. Dow Jones is in extreme pressure and its crashing on every rise which is causing shift in money from equity to safe haven gold. Xauusd tested 1264$ last night before giving a retrace till 1258$.
Currently spot gold price trading at 1259$. Good support in this precious metal stands at 1253$. If traders cut through 1253$ and sustain below 1253$. Then expect good pressure till 1247$- 1240$.
Resistance in gold chart stands at 1266$. If market break and sustain above 1266$. Then expect good rise till 1272$- 1280$.
Conclusion: Comex gold trend is positive for now. Mild retrace in prices not ruled out but I would suggest buy in dips.
Silver
Spot silver tested above 14.80$ but could not hold on higher levels. Currently xagusd trading at 14.73$. Good support in silver chart stands at 14.48$. If market break and sustain below 14.48$. Then expect good pressure in silver price till 14.30$- 14.10$.
Resistance in silver chart now stands at 14.92$. If market break and sustain above 15.12$. Then expect good rise till 15.12$- 15.35$.
Conclusion: Comex Silver trend is flat to positive for now.
Crude oil
Nymex crude oil crashed yesterday and tested 46$ once again. Growth concern is driving oil prices down. Currently oil prices are fix at 46.20$. Support in crude oil chart stands at 45.30$. If market break and sustain below 45.30$. Then expect good pressure till 44.70$- 44$.
Resistance in crude oil chart stands at 47.30$. If market break and sustain above 47.30$. Then expect good rise till 48$- 49.20$.
Conclusion: Nymex crude oil trend is weak for now.
Euro
Eur/Usd fired last night following dollar index weakness. Euro currently trading at 1.1450. Good support in this forex pair stands at 1.1400. If market break and sustain below 1.1400. Then expect good pressure till 1.1360- 1.1320.
Resistance in euro chart stands at 1.1490. If market break and sustain above 1.1490. Then expect good rise till 1.1530- 1.1560.
Conclusion: Euro trend is flat to positive for now.
More will update to our signals subscribers.