Gold forecast
Comex Gold ( xauusd ) price tested new low last night near 1217$ and then kicked back hard from there . In morning prices were flirting with 1228$ . Currently xauusd trading at 1225$ . If you have noticed its trading in 10-15$ range since 3-4 days and its not helping into technical chart . Due to narrow range technical levels may or may not work . A good support on daily chart stands at 1217$ . If traders take this base out and manage to sustain trade below our support today . Then expect more pressure in xauusd prices upto 1208$ – 1200$ today .
A good resistance on daily technical chart stands at 1232$ . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect some recovery in xauusd prices upto 1240$ – 1248$ today .
Gold forecast conclusion : Comex xauusd trend is flat to weak for now .
Silver forecast
Comex Silver ( xagusd ) price trading at 16$ . Last night it tested below 15.90$ and bounced back pretty quickly giving a false breakdown . A good base level on daily chart stands at 15.75$ . If traders take this base out and manage to sustain trade below our support today . Then expect more pressure in xagusd prices upto 15.50$ – 15.30$ today .
A good hurdle on daily technical chart stands at 16.20$ . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect some recovery in xagusd upto 16.45$ – 16.70$ today .
Silver forecast conclusion : Comex xagusd trend is flat for now .
You may read our yesterday’s forecast here
More will update to our trading signals subscribers .
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