Gold facing resistance ( 23rd Nov )

Gold

Yesterday was Thanksgiving so these levels are valid even today.

Gold facing resistance at 1231$ as mentioned in yesterday’s gold forecast. Xauusd did not cross 1231$ yesterday. Dollar Index recovery from lows hampered gold’s chances to cross the barrier and it rolled back in 1225-26$ range.

Soft Jobless claims pushed gold price a little higher yesterday but Dow Jones reversal and strong US dollar kept xauusd in check.

Currently gold trading at 1227$. Good resistance on chart stands at 1231$. If market break and sustain above our resistance. Then expect good rise in xauusd till 1238$- 1245$.

Support in this precious metal price stands at 1218-17$. All levels are almost same as yesterday. Once traders break and sustain below 1217$. Then expect good pressure in gold price till 1209$- 1201$.

Silver

Comex silver is outperforming gold since yesterday. Its sustaining above 14.50$ pretty well since yesterday and clocking gains. Currently xagusd price fix at 14.51$. Good resistance in this metal stands at 14.75$. If traders break and sustain above 14.75$. Then expect good rise till 14.99$- 15.20$.

Support in this precious metal price stands at 14.30$. Once market break and sustain below this base. Then expect good pressure till 14.10$- 13.90$.

Crude oil

Nymex crude oil price tested nearly 55$ yesterday. We enjoyed this mild rise as our buy signal initiated at 54.20$ and we booked profit at 54.80$. Currently oil prices are back in range of 54.40$ as inventory came better than expected which caused pressure in prices.

Good support on this major commodity stands at 53.50$. If market break and sustain below 53.50$. Then expect fresh pressure in crude oil price till 52.70$- 52$.

Resistance in crude oil price stands at 55.20$. Once traders break and sustain above 55.20$. Then expect mild buying in this major commodity till 55.90$- 56.50$.

Eurusd

Eurusd tested 1.1425 yesterday and our subscribers enjoyed this little rise. Our forex signal target was 1.1426 and we booked just at highest level of the day. Currently euro trading at 1.1396. Good support in this forex pair stands at 1.1350. If market break and sustain below 1.1350. Then expect more pressure till 1.1310- 1.1270.

Resistance in eurusd stands at 1.1430. If traders break and sustain above this level. Then expect good buying in euro till 1.1470- 1.1500.

Conclusion

Comex Gold, Silver forecast is positive for now. Avoid selling precious metals till our supports are intact. Crude oil is flat to positive, would recommend buy in dips. Euro also in flat to positive zone.

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