Gold
Spot gold price tested above 1292$ which was a major level for bulls and currently sustaining above 1292$. Dow Jones weakness supporting higher gold prices. Dow Jones Index crashed 600 points once again last night and sustaining below 23000. Weak manufacturing numbers and higher Unemployment claims built pressure in Dow Jones yesterday, Which resulted in higher gold prices.
Currently gold price trading at 1295.50$. Good resistance on chart stands at 1302$. Once traders break and sustain above 1302$. Then expect good rise till 1309$- 1317$.
Support in gold chart stands at 1287$. Once traders break and sustain below 1287$. Then expect good pressure till 1280$- 1272$.
Conclusion: Comex Gold outlook is positive for now.
Silver
Spot silver price trading higher today at 15.78$. Xagusd trading higher since 2 weeks and continuously outperforming gold. Good resistance in this precious metal stands at 16.05$. Once traders break and sustain above 16.05$. Then expect good rise till 16.28$- 16.50$.
Support in silver chart stands at 15.54$. Once market break and sustain below 15.54$. Then expect good pressure till 15.30$- 15.10$.
Conclusion: Comex Silver outlook is positive for now.
Crude oil
Nymex Crude oil price trading higher from Wednesday. Currently trading at 47.20$. Good support in crude oil chart stands at 45.80$. Once traders break and sustain below 45.80$. Then expect good pressure till 45.10$- 44.30$.
Resistance in crude oil price stands at 48.20$. Once market break and sustain above 48.20$. Then expect good rise till 48.90$- 49.40$.
Conclusion: Nymex crude oil outlook is positive for now.
Euro
Euro trading slightly higher due to weaker dollar index. Currently trading at 1.1390. Good support in eurusd chart stands at 1.1350. Once market break and sustain below 1.1350. Then expect more pressure in eurusd till 1.1310- 1.1270.
Resistance in eurusd chart stands at 1.1430. Once market break and sustain above 1.1430. Then expect good rise till 1.1470 – 1.1499.
Conclusion: Euro trend is flat to weak for now.
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