After almost 24 days of struggling with 1298$-1300$ range. Last week gold finally crossed resistance of 1302$ and even gave a close above 1302$. Gold gave a stunning 20$ gains last friday and closed almost all bears while breaking above 1300$.
Currently gold price trading at 1302$. Good support in this precious metal price stands at 1297$. If traders break and sustain below 1297$. Then expect mild profit booking till 1291$- 1284$.
Resistance in gold chart stands at 1309$. If traders break and sustain above 1309$. Then expect good rise till 1317$- 1326$.
Conclusion: Now gold price has broke 1300$ resistance. I wont recommend any major selling. Some profit booking might occur but i would advise to buy in dips. Dollar Index trading near crucial level. Observe dollar before taking any trade.
Silver price fired with gold last week and roofed above 15.70$. Currently silver price trading at 15.77$. Good support in this precious metal stands at 15.48$. If traders break and sustain below 15.48$. Then expect good pressure till 15.25$- 15.05$.
Resistance in silver chart stands at 16.02$. If traders break and sustain above 16.02$. Then expect good rise till 16.28$- 16.50$.
Conclusion: Silver forecast is positive for now. Avoid trading with sell in this positive trend.
Nymex Crude oil price trading lower today at 53$. Crude oil opened weak and currently trading in weak zone only. Good support in this major commodity stands at 52.30$. If traders break and sustain below 52.30$. Then expect good pressure till 51.70$- 51$.
Resistance in crude oil chart stands at 53.50$. If market break and sustain above 53.50$. Then expect good rise till 54.20$- 54.90$.
Conclusion: Nymex crude oil trend is flat to weak for now.
Euro trading higher due to weaker dollar index. Eurusd trading at 1.1410. Good support in this forex pair stands at 1.1380. Once market break and sustain below 1.1380. Then expect good pressure till 1.1350- 1.1320.
Resistance in eurusd chart stands at 1.1430. If market break and sustain above 1.1430. Then expect good rise till 1.1450- 1.1490.
Conclusion: Eurusd trend is flat to positive for now.