Gold forecast
Comex Gold ( xauusd ) price trading 1218$ . It tested 1214.80$ in early morning and now trying to recover on last night’s levels . A good support on daily technical chart stands at 1208$ . If traders take this base out and manage to sustain trade below our support today . Then expect more pressure in xauusd prices upto 1200$ – 1192$ today .
A good resistance on daily technical chart stands at 1225$ . If traders breaks this major hurdle and manage to sustain trade above our resistance today . Then expect some recovery in xauusd prices upto 1232$ – 1240$ today .
Gold forecast conclusion : Comex xauusd trend is flat to weak for now .
Silver forecast
Comex Silver ( xagusd ) price trading at 15.65$ . It crashed last night and our subscribers enjoyed more than 100 pips profit . A good base level on daily technical chart stands at 15.48$ . If traders take this base out and manage to sustain trade below our support today . Then expect some pressure in xagusd prices upto 15.25$ – 15.05$ today .
A good hurdle on daily technical chart stands at 15.92$ . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect some recovery in xagusd prices upto 16.20$ – 16.45$ today .
Silver forecast conclusion : Comex xagusd trend is weak for now .
We have retail sales and industrial production data today from US . Stay cautious .
Read our yesterday’s forecast and levels here
More will update to our trading signals subscribers .