Gold forecast
Comex Gold ( xauusd ) price trading at 1267$ . Yesterday it tested 1259$ and bounced back after doing our target . A good support on daily technical chart stands at 1255$ . If traders breaks this major base and manage to sustain trade below our support today . Then expect more pressure in xauusd prices upto 1248$ – 1240$ today .
A good resistance on daily technical chart stands at 1272$ . If trader breaks this major hurdle and manage to sustain trade above our resistance today . Then expect some recovery in xauusd prices upto 1280$ – 1288$ today .
Gold forecast conclusion : Comex xauusd trend is flat for now .
Silver forecast
Comex Silver ( xagusd ) price trading at 16.90$ . Last night it tested 16.71$ and then fired back . A good base level on daily technical chart stands at 16.70$ . Once this base is taken care of by sellers and price sustain below 16.70$ , then expect more pressure in xagusd prices upto 16.50$ – 16.30$ today .
A good hurdle on daily technical chart stands at 17.05$ . If traders breaks this major hurdle and manage to sustain trade above this hurdle today , then expect some recovery in xagusd prices upto 17.28$ – 17.55$ today .
Silver forecast conclusion : Comex xagusd trend is flat for now .
We have core retail sales and fed decision on interest rate today . So stay cautious .
Read our yesterday’s forecast and levels here
More will update to our trading signals subscribers .