Gold forecast daily update 24th May 2017

By | May 24, 2017

Gold forecast

Comex Gold ( xauusd ) price trading at 1249$ . Its trading lower today as prices came in pressure last night and it continues to test new lows . 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 1234$ – 1227$ today .

A good resistance on daily technical chart stands at 1258$ . If traders breaks this major hurdle and manage to sustain trade above our resistance today . Then expect some recovery in xauusd prices upto 1266$ – 1273$ today .

Gold forecast conclusion : Comex xauusd trend is flat to weak for now .

Silver forecast

Comex Silver ( xagusd ) price trading at 16.94$ . It crashed from 17.24$ . A good base level on daily technical chart stands at 16.70$ . If traders breaks this major base and manage to sustain trade below our support today . Then expect xagusd prices to test upto 16.50$ – 16.30$ today .

A good hurdle on daily technical chart stands at 17.15$ . If traders breaks this major hurdle and manage to sustain trade above our resistance today . Then expect more firepower in xagusd to test upto 17.45$ – 17.70$ 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