Gold forecast
Gold ( xauusd ) price trading higher today at 1227$ . It powered up recently in last 2-3 hours from 1217$ to 1227$ . A good resistance on gold chart today at 1231$ . If traders manage to take this resistance out and sustain trading above our resistance today . Then expect xauusd to zoom upto 1239$ – 1247$ today .
A good support on gold chart stands at 1217$ . If traders break this major support level . Then expect xauusd to correct upto 1208$ – 1200$ today .
Gold forecast conclusion : Trend is positive for now .
Should I buy gold right away as trend is positive for now ? Answer is no . Its already covered 10$ in opening so wait for dip and use a proper stoploss for buy .
Silver forecast
Silver ( xagusd ) price trading at 15.08$ . A good support on silver chart today stands at 14.75$ . If traders break this major support level and manage to sustain trade beneath this support . Then expect this precious metal to correct upto 14.51$ – 14.30$ today .
A good resistance on silver daily chart at 15.31$ . If traders break this major hurdle and manage to sustain trade above our resistance today then expect xagusd to zoom upto 15.55$ – 15.80$ today .
Silver forecast conclusion : Trend is positive for now .
Today we have US manufacturing data and UK services data . So stay cautious .
More will update to our trading signal subscribers .