Gold forecast
Comex Gold ( xauusd ) prices fired upto 1265$ yesterday and crashed at same time . It consolidated approx 20$ from its peak as it tested near 1246$ .Currently xauusd prices are trading at 1251$ . A good support on daily technical chart stands at 1242$ . If traders take this support out and manage to sustain trade below our support today . Then expect more pressure in xauusd prices upto 1233$ – 1225$ today .
A good resistance on daily technical chart stands at 1266$ . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more power to xauusd buyers upto 1274$ – 1280$ today .
Gold forecast conclusion : Comex xauusd trend is flat to weak for now .
Silver forecast
Comex Silver ( xagusd ) price trading at 16.70$ . It went from 16.90$ till 16.45$ last night and recovered smartly from those setbacks . A good hurdle on xagusd technical chart stands at 17.05$ . Once this hurdle is past and silver traders manage to sustain trade above this resistance today . Then expect fresh buying and rise in xagusd prices upto 17.32$ – 17.54$ today .
A good base level on daily technical chart stands at 16.45$ . If traders drag prices below this level and manage to sustain trade this support today . Then expect more pressure in xagusd prices upto 16.20$ – 16$ today .
Silver forecast conclusion : Xagusd trend is flat to weak for now .
Read our yesterday’s levels and forecast here
More will update to our trading signals subscribers .