Gold forecast
Last night comex gold ( xauusd ) prices crashed and tested below 1275$ . But it did not sustain on lower levels and reverted back above 1280$ . Currently prices are trading near 1278$ . A good support on today’s technical chart stands at 1267$ . If traders break this base and manage to sustain trade below this level . Then expect more pressure in gold prices upto 1260$ – 1251$ today .
A good resistance on daily chart stands at 1286$ . If traders unseat this hurdle and manage to sustain trade above our resistance today . Then expect more firepower to buyers upto 1293$ – 1300$ today .
Gold forecast conclusion : Comex gold trend is flat to weak for now .
Silver forecast
Comex silver ( xagusd ) prices also trading in weak zone since last night . Currently trading at 18.15$ . A good base on technical daily chart stands at 17.90$ . Once this support is out and traders manage to sustain prices below this level . Then expect upper hand by silver bears upto 17.70$ – 17.51$ today .
A good hurdle on technical daily chart stands at 18.38$ . If traders manage to break this hurdle and continue trade above our resistance today . Then expect some breather upto 18.54$ – 18.76$ today .
Silver forecast conclusion : Comex silver trend is flat to weak for now .
Read our yesterday’s forecast and levels here
More will update to our trading signals subscribers .