Gold
Brexit directing gold prices since yesterday. We had a dramatic event yesterday in London where many ministers resigned over Brexit differences. UK’s PM Theresa May is in very deep political trouble and there is only one way to to pull all together. She has to change the terms of Brexit. But she is taking a tough stand and already stated no change in terms. She even denied second referendum over this.
Gold like uncertainty and its standing firm despite strong dollar index. Dow Jones took a hit last night and tested 24800 but it shown a tremendous turn around on position jobless claims data.
Currently gold is fix at 1215$. Good support in this major metal stands at 1207$. If market break and sustain below this level. Then expect more pressure in xauusd till 1200$- 1191$.
Resistance in gold price stands at 1225$. If traders break and sustain above our resistance.Then expect good rise till 1232$- 1240$.
Silver
Silver is outperforming gold since yesterday. Xagusd took a big jump yesterday and currently holding above 14.30$. Good resistance in this metal stands at 14.55$. If traders break and sustain above our resistance. Then expect good rise till 14.75$- 14.99$.
Support in silver stands at 14.10$. If market break and sustain below this base. Then expect good pressure till 13.90$- 13.70$.
Crude oil
Nymex crude oil prices trading a little higher today at 57.10$. Oil is sustaining on higher level since yesterday. Good support in chart stands at 56$ now. If market break and sustain below 56$. Then expect good pressure till 55.20$- 54.10$.
Resistance in crude oil prices stands at 58.20$. If traders break and sustain above 58.20$. Then expect good rise till 58.80$- 59.60$.
Euro
Euro trading higher since yesterday. Currently trading at 1.1345. Good support in this major forex pair stands at 1.1300. If traders break and sustain below this level. Then expect pressure in eurusd till 1.1250- 1.1210.
Resistance in eurusd chart stands at 1.1390. If traders break and sustain above 1.1390. Then expect good rise till 1.1420- 1.1450.
Conclusion
Comex Gold, Silver forecast is positive. Avoid selling on these metals for now. Crude oil and Euro are positive too.
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