Gold
Gold started new year with uncertainties. Yesterday Gold price moves from 1289$ to 1278$ within minutes and reverted back in same range. After US stock market opened market became wilder. We had strong dollar index and higher gold prices. A rare combination of price we seen on first day of trading year.
Dow Jones Index fired as well from 23000 to 23400 and then reverted back below 23000. First trading day of 2019 was a roller coaster ride for traders. Uncertainty around US govt shut down and no clear solution of trade war with China seems to be primary reason of gold advances.
Currently gold price trading at highest point of the day at 1290$. Good resistance in this precious metal stands at 1302$. Once market break and sustain above 1302$. Then expect good rise till 1309$- 1317$.
Support in gold chart stands at 1275$. Once market break and sustain below 1275$. Then expect good pressure till 1267$- 1260$.
Conclusion: Comex gold price outlook trend is positive for now.
Silver
Spot silver price outperforming gold once again and trading higher at 15.57$. Good resistance in this precious metal stands at 15.75$. Once market break and sustain above 15.75$. Then expect good rise till 15.99$- 16.20$.
Support in silver price chart stands at 15.30$. Once traders break and sustain below 15.30$. Then expect good pressure till 1510$- 14.90$.
Conclusion: Comex Silver price outlook is positive for now.
Crude oil
Nymex crude oil fired last night and our subscribers enjoyed it. Our subscribers was in buy and booked profit. Currently crude oil price trading at 45.60$. Good support in this commodity stands at 44.70$. Once market break and sustain below 44.70$. Then expect pressure till 44$- 43.20$.
Resistance in crude oil chart stands at 46.30$. Once traders break and sustain above 46.30$. Then expect good rise till 46.90$- 47.30$.
Conclusion: Nymex Crude oil outlook is positive for now.
Euro
Euro trading lower as dollar index is advancing since last night. Eurusd crashed from 1.1410 till 1.1350. We enjoyed this crash as our clients were in sell. Currently euro trading at 1.1360. Good support in this forex pair stands at 1.1330. Once market break and sustain below 1.1330. Then expect pressure in eurusd till 1.1300- 1.1260.
Resistance in eurusd stands at 1.1405. Once traders break and sustain above 1.1405. Then expect good rise till 1.1450- 1.1490.
Conclusion: Euro trend is weak for now.
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