Gold analysis
Gold ( xauusd ) price trading higher today at 1265$ , prices are getting support from weak chinese data came early morning . A good support on daily chart stands at 1254$ . If traders take this base out and manage to sustain trade below our support today . Then expect more pressure in this precious metal upto 1247$ – 1240$ today .
A good resistance on daily chart stands at 1272$ . If traders unseat this hurdle and manage to sustain trade above our resistance today . Then expect more firepower in this major commodity upto 1280$ – 1288$ .
Gold analysis conclusion : Comex xauusd trend is flat to positive for now .
Silver analysis
Silver ( xagusd ) price trading at 16.54$ . It tested 16.59$ early morning today and currently trading near highest point of the day . A good hurdle on daily chart stands at 16.65$ . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in xagusd upto 16.85$ – 17.05$ today .
A good base level on daily chart stands at 16.40$ . Once traders take this base out and manage to sustain trade below our support today . Then expect some pressure in this major commodity prices upto 16.20$ – 16$ today .
Silver analysis conclusion : Comex xagusd trend is positive for now .
More will update to our trading signals subscribers .