Gold forecast
Comex gold ( xauusd ) price trading at 1291$ , its trading in a narrow range since yesterday . We had a 3-4$ movement yesterday as major market US was close due to Thanksgiving . A good hurdle on daily chart stands at 1301$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in this major commodity upto 1307$ – 1317$ today .
A good support on daily chart stands at 1284$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this major commodity upto 1275$ – 1270$ .
Gold forecast conclusion : Comex gold trend is positive for now .
Silver forecast
Comex silver ( xagusd ) price trading at 17.14$ , it did not fired like xauusd and trading below 17.25$ making it vulnerable towards a crack . A good base level on daily chart stands at 16.90$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure in this major commodity upto 16.70$ – 16.50$ today .
A good hurdle on daily chart stands at 17.32$ , if traders take this hurdle out and manage to sustain trade above ou resistance today . Then expect good fireworks in this precious metal upto 17.54$ – 17.78$ .
Silver forecast conclusion : Comex silver trend is positive for now .
More will update to our trading signals subscribers .