Gold
Spot gold gains aided by political uncertainty around Europe. Brexit seems to take a toll in English people and its politics. UK’s PM is trying to save her political by sorting out issues in Brexit. Another issue is president Trump is open for another round of tariff on Chinese goods in first week of December.
We dont have any sort of confirmation from either side and most probably US will slap another round of tariff on Chinese goods. Trade war is getting uglier week by week and its impacting gold forecast levels.
Currently gold trading at 1211.50$. We enjoyed little push in gold as our buy signal initiated at 1202$ and our target met at 1209$. That was our second gold signal in this week which achieved target. Click here to join our signals in $99 for first month.
Good resistance in xauusd chart stands at 1218$. If traders break and sustain above our resistance. Then expect good rise in this precious metal till 1226$- 1234$.
Support in gold price stands at 1198$. If market break and sustain below this level. Then expect good pressure in xauusd till 1191$- 1184$.
Silver
Spot silver price broke 13.90$ but could not sustain below that major base and bounced back pretty hard from there. Currently xagusd price trading at 14.16$. Good support in this precious metal stands at 13.90$. If traders break and sustain below this level. Then expect more pressure in xagusd till 13.70$- 13.50$.
Resistance in silver stands at 14.32$. If market break and sustain above our resistance. Then expect good rise till 14.54$- 14.77$.
Crude oil
Nymex crude oil bounced yesterday and tested above 57$. Our subscribers enjoyed this mild rise and booked more than $700 profit in our buy signal. Currently trading at 56.30$. Good support in this major commodity stands at 55.40$. If market break and sustain below this level. Then expect good pressure till 54.70$- 54$.
Resistance in crude oil chart stands at 58.20$. Traders need to break and close above this hurdle to enable major buying. Once traders break and sustain above this hurdle. Then expect good rise till 59$- 59.90$.
Euro
Euro recovered pretty smartly since yesterday. Our forex signals subscribers enjoyed this run as our buy signal was there to catch the gains. Currently eurusd trading at 1.1330. Good resistance in this fx pair stands at 1.1370. Once traders break and sustain above our resistance. Then expect good rise till 1.1405- 1.1445.
Support in euro stands at 1.1290. If traders break and sustain below this level. Then expect good pressure till 1.1250- 1.1200.
Conclusion
Comex Gold, Silver forecast remain same. Trend is positive and I do not recommend any selling for now. Crude oil is flat to negative for now. It is in tight range so avoid major trade. Euro trend is positive for now.
Click here to join our chat room for live market updates.