Gold forecast
Comex Gold ( xauusd ) price trading at 1263$ . It opened a bit lower today and continuing trade below 1265$ . A good resistance on daily chart stands at 1272$ . If traders breaks this technical hurdle and manage to sustain trade above our resistance today . Then expect more power to gold bulls upto 1280$ – 1288$ today .
A good support on daily technical chart stands at 1254$ . If traders breaks this major base and manage to sustain trade beneath our support today . Then expect more pressure in gold prices to test upto 1247$ – 1240$ today .
Gold forecast conclusion : Comex xauusd trend is flat to weak for now .
Silver forecast
Comex Silver ( xagusd ) price trading at 17.10$ . A good base level on daily chart stands at 16.90$ . If traders take this support out and manage to sustain trade below our support today . Then expect more pressure in this precious metal upto 16.70$ – 16.50$ today .
A good hurdle on daily technical silver chart stands at 17.35$ . If traders breaks this major hurdle and manage to sustain trade above our resistance today . Then expect a breather upto 17.55$ – 17.80$ today .
Silver forecast conclusion : Comex silver trend is weak for now .
Europe is close today so expect a bit slow movement before US market starts business .
Read our this week’s forecast here
More will update to our trading signals subscribers .
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