Gold forecast
Comex Gold ( xauusd ) price trading at 1254$ . Yesterday gold tried to break our base of 1245$ but could not succeed and bounced back from there . Today again a good support on technical chart stands at 1245$ . If traders breaks this major base and manage to sustain trade below our support today . Then expect more pressure in xauusd prices upto 1238$ – 1230$ today .
A good resistance on daily technical chart stands at 1262$ . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect some recovery in xauusd prices upto 1270$ – 1278$ today .
Gold forecast conclusion : Comex xauusd trend is positive for now .
Silver forecast
Comex Silver ( xagusd ) price trading at 16.68$ . Silver just tested 16.70$ and flirting with its highest point . A good base level on daily technical chart stands at 16.45$ . If traders breaks this major base and manage to sustain trade below our support today . Then expect more pressure in xagusd prices upto 16.22$ – 16.02$ today .
A good hurdle on daily technical chart stands at 16.80$ . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more rise in xagusd upto 17$ – 17.20$ today .
Silver forecast conclusion : Comex xagusd trend is positive for now .
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