Commodities Daily Forecast Jan 27 2020

Forex -oil - 65989

WTI Oil: Bearish, Eyes Further Downside…

As long as 55.00 -broken support turned resistance – holds on a daily closing basis. WTI Oil remains on the downside to 52.50 level. A halt is likely, it may test 55.00 before attempts to break lower. Anyway; below 52.00 aims the 51.00 level, further down, support comes in the 50.00 level.

On the upside, resistance comes at the 55.00 level. Above 55.00 face recovery threat to 57.30 levels where rejection is likely.

In conclusion: WTI Oil faces further downside pressure below 55.00 level.

Support: 52.50, 51.00, 50.00, 48.50, 46.15

Resistance: 55.00, 57.30, 59.00, 60.00, 61.15

Commodities Daily Forecast Jan 27 2020 - WTI OilXAUUSD: Bullish With Caution!

As long as 1575 holds on a daily closing basis. The XAUUSD remains on the upside to 1587 levels. A halt is likely but a cut would open 1600 levels, further upside, resistance comes at 1615 levels. On the downside, below 1575 sess fall threats to 1557/1550 levels. A cut through support will reverse risk to the downside to 1530/1518 levels. In conclusion: The XAUUSD sees upside threats above 1550 with caution…

Support: 1575, 1557, 1550, 1531, 1518, 1509

Resistance: 1587, 1600, 1615, 1625, 1640

Commodities Daily Forecast Jan 27 2020 - XAUUSDXAGUSD: Limited Recovery With Caution…

As long as 18.13 support holds on a daily closing basis. The XAGUSD remains on the upside with caution. resistance comes at 18.30. A halt is likely, it may test 18.13 before attempts to break higher. Above 18.30 aims the 18.50 level, further upside, resistance comes in the 18.70 levels. On the downside, support comes at 18.13 ahead of 17.73 level (main). Below 17.73 will reverse risk to the downside to 17.50/17.15 levels.

Note: A rejection from 18.30 followed by a daily closing below 18.13 will suggest possible reversal to the downside…

In conclusion: The XAGUSD sees upside threats above 17.73 with caution.

Support: 18.13, 17.73, 17.50, 17.15, 16.75

Resistance: 18.30, 18.50, 18.70, 18.85, 19.22

Commodities Daily Forecast Jan 27 2020 - XAGUSD

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