Brexit holding gold prices and xauusd is trading in a small range since Monday. Xauusd trading from 1241$ to 1248$ since it opened this week. We have entered in December and we may be headed towards low volume holiday sessions soon. Currently traders are waiting for clear outcome of Brexit which is holding entire market for now.
Currently gold price trading at 1245.50$. Good support in this precious metal stands at 1238$. If traders break and sustain below this level. Then expect good pressure till 1230$- 1222$.
Resistance in gold stands at 1253$. If traders break and sustain above 1253$. Then expect good rise in xauusd till 1260$- 1266$.
Conclusion: Comex Gold price analysis flat for now. Follow technical levels for now as Brexit may bring wild moves in precious metals.
Silver
Spot silver is outperforming gold since yesterday. Its showing higher moves from lows of 14.55$. Currently trading at 14.75$. Good resistance in this precious metal stands at 15.05$. Once traders break and sustain above 15.05$. Then expect good rise till 15.28$- 15.50$.
Support in silver price stands at 14.48$. If traders break and sustain below 14.48$. Then expect good pressure till 14.25$- 14$.
Conclusion: Spot silver forecast is positive for now. Buy in dips would be good strategy.
Crude oil
Nymex crude oil price trading lower since Monday. Currently oil trading at 51.30$. Good support in this major commodity stands at 50.50$. If traders break and sustain below 50.50$. Then expect good pressure till 49.80$- 49.20$.
Resistance in crude oil price chart stands at 52.50$. If market break and sustain above 52.50$. Then expect good rise till 53.30$- 53.90$.
Conclusion: Crude oil price forecast is flat to weak for now. Avoid major buying for now.
Euro
Euro trading flat as dollar index also in small range since yesterday. Currently eurusd trading at 1.1372. Good resistance in eurusd stands at 1.1405. If traders break and sustain above 1.1405. If market break and sustain above 1.1405. Then expect good rise till 1.1450- 1.1499.
Good support in eurusd chart stands at 1.1340.If market break and sustain below 1.1340. Then expect good pressure till 1.1300- 1.1250.
Conclusion: Eurusd trend is flat to weak for now. Follow technical levels.
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