Gold forecast
Comex gold price trading at 1313$ almost flat since yesterday. Market waiting for a clear direction from dollar index which is also standing still since yesterday. A good support on this major commodity stands at 1307$, If traders take this base out and manage to sustain trade below our support. Then expect good pressure in gold price upto 1300$ – 1291$ today.
A good resistance on this major commodity stands at 1322$, If traders take this hurdle out and manage to sustain trade above our resistance. Then expect good recovery in gold price upto 1331$ – 1339$.
Gold forecast conclusion: Comex gold trend is flat for now. Watch out levels to trade.
Silver support stands at 16.20$, Resistance at 16.66$. Trend is flat.
Euro forecast
Eur/Usd trading at at 1.1927, Euro trading flat since yesterday. A good base on this major forex pair stands at 1.1880. If traders take this base out and manage to sustain trade below our support. Then expect more pressure in euro upto 1.1840- 1.1800 today.
A good hurdle on this major forex pair stands at 1.1960, If traders take this hurdle out and manage to sustain trade above our resistance. Then expect good recovery in euro upto 1.1999- 1.2040.
Euro trend is flat to positive for now.
Crude oil forecast
Crude oil price trading at 70.17$, It dipped below 70$ and now trying to sustain above 70$. A good base on this major commodity stands at 69.20$. If traders take this base out and manage to sustain trade below our support. Then expect more pressure in oil prices upto 68.50$- 68$.
A good hurdle on this major commodity stands at 71.20$, If traders take this hurdle out and manage to sustain trade above our resistance. Then expect good firepower in oil prices upto 72.50$ – 73.80$. Production cuts in 2018 which is certain in next OPEC meeting should send price higher. Sanctions on Iran is another reason to stay optimistic for higher prices.
Crude oil forecast conclusion: Oil price forecast 2018 is positive. Even today’s crude oil trend is flat to positive but some profit booking is not ruled out today. Stay cautious on these levels. No buy on these levels.
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