Gold forecast
Comex Gold ( xauusd ) price trading at 1274$ today . Last night it crashed right after ECB press conference and gave a good solid trend reversal . A good support on daily technical chart stands at 1265$ . If traders breaks this major base and manage to sustain trade below our support today , then expect more pressure in xauusd prices upto 1257$ – 1250$ today .
A good resistance on daily technical chart stand sat 1280$ . If traders breaks this major hurdle and manage to sustain trade above our resistance today . Then expect more firepower in xauusd prices upto 1288$ – 1296$ today .
Gold forecast conclusion : Comex xauusd trend is flat to weak for now .
Silver forecast
Comex Silver ( xagusd ) price trading at 17.35$ . It crashed last night after ECB event and currently trading in lower range . A good hurdle on daily technical chart stands at 17.55$ . If traders breaks this major hurdle and manage to sustain trade above our resistance today , then expect more firepower in xagusd prices upto 17.78$ – 17.99$ today .
A good base level on daily technical chart stands at 17.20$ . Once this base support is taken care of by sellers and manage to sustain trade below our support today . Then expect more pressure in xagusd prices upto 17$ – 16.80$ today .
Silver forecast conclusion : Comex xagusd trend is flat to weak for now .
Read our yesterday’s forecast here
More will update to our trading signals subscribers .