Gold
Good Non farm Employment data boosted Dow Jones Index by more than 700 points. Non farm numbers came way better than expectations which send dow jones on steroid. It gained more than 700 points within 4 hours.
Good job numbers proved US economy is in much better place than some analysts are expecting. Job numbers dragged gold from 1298$ to 1284$ within hours. It was later in the day when gold gave short covering and closed near 1290$.
Currently gold price trading at 1290.50$. Good support in gold chart stands at 1284$. Once market break and sustain below 1284$. Then expect good pressure till 1278$- 1270$.
Resistance in gold chart stands at 1302$. If traders break and sustain above 1302$. Then expect good rise till 1309$- 1317$.
Conclusion: Comex Gold price forecast is flat to weak for now.
Silver
Spot Silver price standing still compare to gold. Xagusd did not crash like gold and stayed on almost same levels. Currently silver price trading at 15.80$. Good support in this precious metal stands at 15.54$. If traders break and sustain below 15.54$. Then expect good pressure till 15.35$- 15.15$.
Resistance in silver price stands at 16.05. Once market break and sustain above 16.05$. Then expect good rise till 16.28$- 16.50$.
Conclusion: Comex Silver price forecast is flat to positive for now.
Crude oil
Nymex crude oil price trading higher since it recovered from 44$. Currently prices are trading at 48.90$. Good support in this commodity stands at 47.80$. Once traders break and sustain below 47.80$. Then expect good pressure till 47$- 46.20$.
Resistance in crude oil chart stands at 49.60$. Once market break and sustain above 49.60$. Then expect good rise till 50.20$- 51$.
Conclusion: Nymex crude oil trend is positive for now.
Euro
Euro trading higher at 1.1422. Weak dollar index is driving euro higher. Good support in eurusd chart stands at 1.1380. Once market break and sustain below 1.1380. Then expect good pressure till 1.1350- 1.320.
Resistance in euro chart stands at 1.1450. Once traders break and sustain above 1.1450. Then expect good rise til 1.1480- 1.1520.
Conclusion: Euro price forecast is positive for now.
Click here to join our live chat room for live updates.