Gold
Brexit vote failed in British Parliament. UK prime minister Theresa May deal is voted down. UK parliament crushed her deal in never before voting. Pound started rising right after Brexit vote and Theresa May defeat. Currently market is trying to determine future of Theresa May. As we may see no motion of confidence very soon.
This event is totally dictating gold higher as one of the most powerful country is facing political uncertainty. Currently gold price trading at 1292$. Good support in gold chart stands at 1285$. If traders break and sustain below 1285$. Then expect good pressure in gold till 1278$- 1270$.
Resistance as said in previous forecasts too, stands at 1302$. Once market break and sustain above 1302$. Then expect good rise till 1309$- 1318$.
Conclusion: Comex Gold forecast is positive for now. Avoid major selling. Upside is also capped till resistance is intact.
Silver
Silver is under performing gold since Monday. Currently prices are trading at 15.60$. Good support in this precious metal stands at 15.40$. Once market break and sustain below 15.40$. Then expect good pressure till 15.20$- 15$.
Good resistance in silver price stands at 15.85$. If traders break and sustain above 15.85$. Then expect good rise till 16.05$- 16.28$.
Conclusion: Comex Silver forecast is flat to positive for now.
Crude oil
Nymex Crude oil price trading higher since yesterday. Currently trading at 52.30$. Good resistance in this major commodity stands at 52.80$. If traders break and sustain above 52.80$. Then expect good rise till 53.60$- 54.20$.
Support in crude oil chart stands at 51.50$. If traders break and sustain below 51.50$. Then expect good pressure till 50.80$- 50.20$.
Conclusion: Nymex Crude oil forecast is positive for now.
Eurusd
Euro trading flat to positive following cues from Brexit voting. Currently euro trading a bit higher at 1.1408 following weaker dollar index. Good support in this forex pair stands at 1.1370. If traders break and sustain below 1.1370. Then expect good pressure till 1.1340- 1.1300.
Resistance in eurusd chart stands at 1.1450. Once traders break and sustain above 1.1450. Then expect good rise till 1.1490- 1.1520.
Conclusion: Eurusd forecast is flat to positive for now.
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