Gold
Brexit may affect trade between US and UK, This single statement by president Trump crashed sterling and gave a higher push to dollar index. Higher dollar pushed gold down and it tested from 1225$ to 1211$. Higher Dow Jones Index also contributed in selling as it recovered from 24400 to test 24800.
Currently gold prices are trading at 1214$. Good support in this precious metal chart stands at 1208$. If traders break and sustain below this level. Then expect good pressure in xauusd till 1200$- 1191$.
Resistance in gold chart stands at 1225$. If market break and sustain above our resistance. Then expect good rise till 1232$- 1240$.
Silver
Silver also took the plunge on higher equity market and strong dollar. It crashed from 14.40$- to 14.10$. Currently this major metal trading at 14.10$. If traders break and sustain below this base. Then expect good pressure till 13.90$- 13.70$.
Resistance in silver stands at 14.32$. If market break and sustain above our resistance. Then expect good rise till 14.55$- 14.78$.
Crude oil
Nymex crude oil finally took off and tested 52.50$. We enjoyed this mild rise and our buy signal target achieved yesterday. Currently prices are trading at 52.20$. Good support in this major commodity stands at 51.50$. If market break and sustain below this level. Then expect good pressure till 50.80$- 50$.
Resistance in crude oil stands at 53.20$. If market break and sustain above our resistance. Then expect good rise till 53.80$- 54.40$.
Euro
Euro crashed yesterday as dollar index advanced on Trump’s statement regarding Brexit. Currently eurusd trading at 1.1299. Good support in this forex pair stands at 1.1250. If market break and sustain below this level. Then expect further pressure in eurusd till 1.1220- 1.1180.
Resistance in eurusd stands at 1.1330. Once traders take this hurdle out and manage to sustain above our resistance. Then expect good rise till 1.1370- 1.1420.
Conclusion
Comex Gold, Silver forecast is flat to positive for now till they are holding our supports. Below support we would seek an exit but wont be selling. Crude oil is positive for now. Euro is flat to positive. Buy in dips would be good idea.
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