Gold
Spot gold price fired from 1280$ to 1295$ since last night. Dollar weakness is driving gold price higher. Dollar is in weak trend since last night due to FOMC meeting minutes.
Latest Fed meeting minutes shows that many FOMC members are not in line to raise anymore interest rates. FOMC members are started contracting themselves. Fed members contradictions are a sign that we may not see much rate hikes in 2019 or pace of rate hikes may be slower this year.
Currently gold price trading at 1295.50$. Good resistance in this precious metal price stands at 1302.20$. Once market break and sustain above 1302.20$. Then expect good rise till 1309$- 1317$.
Good support in gold chart stands at 1280$. If market break and sustain above our resistance. Then expect good pressure in this precious metal till 1272$- 1265$.
Conclusion: Comex Gold price forecast is positive for now.
Silver
Spot silver price trading at 15.75$. Currently silver is not firing and in a small range since yesterday. Good support in this precious metal stands at 15.48$. Then expect good pressure till 15.25$- 15.05$.
Good resistance in silver price stands at 16.02$. If market break and sustain above 16.25$. Then expect good rise till 16.47$- 16.70$.
Conclusion: Silver price forecast is flat to positive for now.
Crude oil
Nymex Crude oil price trading at 51.95$. Crude oil is in high RSI range and may drop a little due to rising RSI. Good support in this major commodity stands at 51.30$. If market break and sustain below this base. Then expect good pressure till 50.70$- 50$.
Good resistance in crude oil chart stands at 52.50$. If market break and sustain above our resistance. Then expect good rise till 53.10$- 53.80$.
Conclusion: Nymex Crude oil trend is flat to weak for now.
Euro
Euro trading higher at 1.1555. Yesterday euro fired due to weak dollar index. Currently its settling on these levels. Good support in eurusd chart stands at 1.1520. If market break and sustain below 1.1520. Then expect good rise till 1.1480- 1.1450.
Good resistance in eurusd chart stands at 1.1590. If market break and sustain above 1.1590. Then expect good rise till 1.1630- 1.1670.
Conclusion: Euro trend is flat to weak for now.
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