Gold forecast
Comex Gold ( xauusd ) prices crashed yesterday and tested 1241$ . Precious metals pack crashed as US GDP came better than expected . Currently xauusd prices flirting with 1245$ . A good support on daily technical chart stands at 1237$ . If traders breaks this major base level and manage to sustain trade below our support today . Then expect more pressure in xauusd prices upto 1230$ – 1228$ today .
A good resistance on daily technical chart stands at 1250$ . If traders breaks this major hurdle and manage to sustain trade above our resistance today . Then expect some recovery in xauusd prices upto 1256$ – 1262$ today .
Gold forecast conclusion : Comex xauusd trend is flat to weak for now .
Silver forecast
Comex Silver ( xagusd ) price trading at 16.64$ . A good hurdle on daily technical chart stands at 16.90$ . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect some recovery in xagusd prices upto 17.20$ – 17.50$ today .
A good base level on daily technical chart stands at 16.40$ . If traders take this base out and manage to sustain trade below our support today . Then expect some more pressure in xagusd prices upto 16.20$ – 16$ today .
Silver forecast conclusion : Comex xagusd trend is weak for now .
Read our yesterday’s forecast here
More will update to our trading signals subscribers .