Gold rise after our signal

Gold rising since yesterday after our buy signal initiated. I even gave free gold signal in our chat room. Interestingly only gold is gaining in precious metals. Other precious metals such as silver and palladium are trading in narrow range and unable to break above their highs.

We have FOMC decision on interest rate tonight.We will see what is Fed outlook for upcoming year. If they change their stance from Hawkish to Dovish or remain hawkish. 

Weak job numbers and falling stock market may concern Fed and could result in change. But its just a guess for now. We need to see how Fed behaves on weak Job numbers and current tensions between US and China.

Currently gold trading at 3 month’s high. Xauusd cruising above 1250$. Immediate resistance stands at 1253$. This is an important level for gold price. Traders need to break this before any major buying spree. Once traders break and sustain above 1253$. Then expect good rise in gold price till 1260$- 1266$.

Support in gold chart stands at 1242$. If market break and sustain below 1242$. Then expect pressure in xauusd till 1235$- 1227$.

Conclusion: Comex Gold forecast is positive for now. Buy in dips would be good strategy. But do not hold any position near Fed event.


Spot silver is trading almost flat since Monday. Xagusd not moving anywhere since Monday and trading from 14.60$ to 14.75$. Currently price is fix at 14.69$. Good resistance in this precious metal stands at 14.77$. If traders break and sustain above 14.77$. Then expect good buying till 14.99$ – 15.20$.

Good support in spot silver chart stands at 14.48$. Once traders cut through 14.48$ and manage to sustain below 14.48$. Then expect pressure in xagusd till 14.30$- 14.10$.

Conclusion: Comex Silver outlook is flat to positive for now.

Crude oil

Nymex crude oil continuing its losing streak. Groowth concerns and advancing electric cars technology is causing pain in crude oil . Saudi not cutting output as stated by Saudi’s official is also putting pressure in oil prices.

Currently crude oil trading at 46.65$. Good support now stands at 46$. If market break and sustain below 46$. Then expect good pressure till 45.20$- 44.50$.

Resistance in crude oil prices stands at 47.20$. If traders cut through this hurdle and manage to sustain above 47.20$. Then expect mild recovery till 48$- 48.80$.

Conclusion: Nymex crude oil is in over sold range. Avoid selling on these levels.


Euro trading higher since yesterday. Mild weakness in dollar supporting eurusd. Currently eurusd trading at 1.1382. Good support in euro stands at 1.1340. If market break and sustain below 1.1340. Then expect good pressure in euro till 1.1300- 1.1260.

Euro chart 19th Dec 2018

Resistance in euro stands at 1.1420. Once market break and sustain above 1.1420. Then expect good rise till 1.1460- 1.1499.

Conclusion: Euro trend is flat to psoitive for now.

Posted in: Gold Silver Updates

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