Commodities Daily Forecast Jan 22 2020

Forex-oil-986568

WTI Oil: Bearish Eyes Further Weakness…

As long as 59.00/60.00 resistance holds on a daily closing basis. WTI Oil remains on the downside. Support comes in the 57.30 levels. A cut below support aimsĀ  55.00 levels. A halt is likely. It may test 57.30 before attempts tp move lower, further down, support comes in the 50.00 levels.

On the upside, resistance comes in the 59.00 levels ahead of 60.00 levels (main). Above 60.00 sees recovery threats to 61.15 level ahead of 63.00 level.

In conclusion: WTI Oil remains exposed to the down below 60.00 levels.

Support: 57.30, 55.00, 52.50, 50.00

Resistance: 59.00, 60.00, 61.15, 63.00

Commodities Daily Forecast Jan 22 2020-WTI OilXAUUSD: Remains Vulnerable To The Downside…

As long as 1556/1577 resistance holds on a daily closing basis. The XAUUSD remains in a corrective pullback mode and further down couldn’t be ruled out. Support comes at 1531 levels ahead of 1518/1509 levels. On the upside, Above 1577 restores the upside momentum and aims the 1611 levels ahead of 1650 levels. In conclusion: The XAUUSD sees fall threats below 1556/1577 levels.

Support: 1531, 1518, 1509, 1485, 1477

Resistance: 1556, 1577, 1611, 1650, 1700

Commodities Daily Forecast Jan 22 2020-GoldXAGUSD: Continues Bearishness On-Resistance Rejection…

No change, as long as 18.19 resistance holds on a daily closing basis. The XAGUSD remains on the downside to 17.78/17.50 levels. Above 18.19 sees recovery threats to 18.42/18.85 where another fall is likely.

Support: 17.78, 17.50, 17.15, 16.75, 16.45

Resistance: 18.19, 18.42, 18.60, 18.85, 19.22

Commodities Daily Forecast Jan 22 2020-SIlver

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