Gold analysis 07 august 2017

By | August 7, 2017

Gold analysis

Gold ( xauusd ) price trading at 1257$ . It opened a little lower and trading on lower side . A good support on daily chart stands at 1248$ . If traders take this base out and manage to sustain trade below our support today . Then expect more pressure in xauusd prices upto 1240$ – 1233$ today .

A good resistance on daily chart stands at 1266$ . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect some power to buyers upto 1272$ – 1278$ .

Gold analysis conclusion : Major trend is flat for now . Avoid any major buy trade .

Silver analysis

Silver ( xagusd ) price trading at 16.23$ . Its trading flat since morning . A good base level on daily chart stands at 16$ . If traders take this base out and manage to sustain trade below our support today . Then expect more pressure in this major commodity upto 15.80$ – 15.60$ .

A good hurdle on daily chart stands at 16.55$ . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect some rise in this precious metal prices upto 16.80$ – 17$ today .

Silver analysis conclusion : Comex xagusd trend is flat for now .

More will update to our signals subscribers .

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