Gold
Spot gold price trading higher on first day of new year. Year 2019 opened with positive and currently trading at 1287$. We have many factors which are contributing to higher prices of gold.
Weaker dollar index, Temporary US govt shut down are major reasons which are driving gold price higher. Good support in gold chart stands at 1278$. Once market break and sustain below 1278$. Then expect good pressure till 1270$- 1262$.
Resistance in gold chart stands at 1292$. Once market break and sustain above 1292$. Then expect more power to buyers and market may test till 1299$- 1307$.
Conclusion: Comex gold price outlook is positive for now. But Xauusd has fired almost 50$ without any correction. Its time to take a caution note. Avoid major trade without stop loss.
Silver
Spot silver is firing with full guns and outperforming gold once again. Currently xagusd trading at 15.45$. It has fired more than 1$ without any correction. Good support in this precious metal chart stands at 15.20$. Once market break and sustain below 15.20$. Then expect more pressure till 15$- 14.80$.
Resistance in silver chart stands at 15.60$. Once market break and sustain above 15.60$. Then expect good rise again till 15.80$- 15.99$.
Conclusion: Comex Silver price outlook is positive for now. But avoid major buying on these levels. Follow levels mentions in technical analysis today.
Crude oil
Nymex Crude oil prices are under pressure constantly since December first week. Currently oil price trading at 44.85$. Good support in crude oil chart stands at 43.80$. Then expect more pressure till 43$- 42.20$.
Resistance in crude oil price stands at 46.20$. Once market break and sustain above 46.20$. Then expect good rise till 46.80$- 47.90$.
Conclusion: Nymex Crude oil price outlook is weak for now. Use levels mentions in technical analysis to trade.
Euro
Euro trading higher today at 1.1490. Weaker dollar index driving euro higher. Good support in this forex pair stands at 1.1450. Once traders break and sustain below 1.1450. Then expect more pressure till 1.1410- 1.1370.
Resistance on euro chart stands at 1.1535. Once traders break and sustain above 1.1535. Then expect good rise till 1.1570- 1.1600.
Conclusion: Euro trend is positive for now.
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