Gold
As said in our earlier gold forecast gold price could not cross 1300$ and dropped heavily from higher levels. Gold crashed from 1296-97$ range and now trading near 1280$. Dow Jones Index recovered more than 500 points in single day last Friday. Which caused an extreme pressure in precious metals prices.
Currently good support in gold chart stands at 1274$. If market break and sustain below 1274$. Then expect more pressure till 1268$- 1260$.
Good resistance in gold chart stands at 1291$. If traders break and sustain above 1291$. Then expect good rise in xauusd till 1298$- 1304$.
Conclusion: Comex Gold forecast is flat to weak for now. Avoid major buying till dollar index is sustaining on higher levels.
Silver
Silver price also crashed following lead from gold prices. Currently trading at 15.30$. Good support in this precious metal chart stands at 15.05$. If traders break and sustain below 15.05$. Then expect good pressure till 14.80$- 14.60$.
Resistance in silver chart stands at 15.55$. Once traders break and sustain above 15.55$. Then expect good rise in silver price till 15.80$- 15.99$.
Conclusion: Comex Silver forecast is flat to weak for now.
Crude oil
Nymex Crude oil price trading higher at 54.20$. Crude oil price continously gaining since last week. Good resistance on chart stands at 55.05$. If traders break and sustain above 55.05$. Then expect good rise till 55.70$- 56.30$.
Good support in crude oil chart stands at 53.50$. If market break and sustain below 52.80$. Then expect good pressure till 52.70$- 52$.
Conclusion: Crude oil forecast is positive for now. Avoid selling int his major commodity.
Euro
Eurusd trading slightly higher following mild drop in dollar index. Currently eur/usd trading at 1.1375. Good support in eur/usd chart stands at 1.1340. Once market break and sustain below 1.1340. Then expect good pressure till 1.1300- 1.1270.
Resistance in eurusd chart stands at 1.1405. If market break and sustain above 1.1405. Then expect good rise till 1.1450- 1.1490.
Conclusion: Eur/Usd forecast is flat to positive for now.
More will update to our signals subscribers.