Gold
Higher Dow Jones Index pressurized gold prices. Dow Jones Index recovered more than 1000 points after Christmas holiday. DJIA index marked one of the greatest day of all time when it clocked more than 1000 points gains in one trading session. Higher stock market resulted in dollar index gains.
Dollar Index rise put pressure in gold prices. Gold crashed from 1275$ to 1265$. Higher dollar index always lead gold prices lower. This was the case yesterday when gold could not hold its gains.
Currently gold price trading at 1269$, Good support in this precious metal stands at 1262$. Once market break and sustain below 1262$. Then expect good pressure till 1255$- 1247$.
Resistance in gold chart stands at 1276$. If market break and sustain above our resistance. Then expect good rise till 1284$- 1291$.
Conclusion: Comex gold trend is flat to positive for now.
Silver
Spot silver price outperformed gold yesterday by big margin. Xagusd crossed 15$ and sustaining well above 15$. Currently price trading at 15.01$. Good support in this precious metal stands at 14.78$. Once market break and sustain below 14.78$. Then expect good pressure till 14.56$- 14.35$.
Resistance in silver chart stands at 15.25$. If market break and sustain above 15.25$. Then expect good rise till 15.48$- 15.75$.
Conclusion: Comex silver trend is positive for now.
Crude oil
Nymex crude oil gained nearly 10% yesterday after Christmas holiday. We enjoyed this move as our buy signal target achieved. Currently crude oil price trading at 46$. Good support in this major commodity stands at 44.80$. If market break and sustain below 43.50$. Then expect good pressure till 42.70$- 41.50$.
Good resistance in crude oil chart stands at 47.30$. Once market break and sustain above 47.30$. Then expect good rise till 48$- 48.80$.
Conclusion: Nymex crude oil trend is flat to positive for now.
Euro
Eurusd trading lower since yesterday. Dollar Index gains resulted in euro weakness. Currently euro trading at 1.1378. Good support in euro chart stands at 1.1340. If market break and sustain below 1.1340. Then expect good pressure till 1.1300- 1.1260.
Resistance in euro chart stands at 1.1420. If market break and sustain above our resistance. Then expect rise in euro till 1.1460- 1.1500.
Conclusion: Euro trend is weak for now.
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