Gold forecast
Gold prices crashed further yesterday . From 1080$ to 1065$ . Today it made low 1063.30$ . Its strengthning its bear trend day by day . Making lows every single day . Currently price trading at 1069$ . Today a good resistance on gold chart at 1078$ once market break this and sustain above our intraday resistance then expect a positive trading session upto 1085$ – 1092$ today .
Gold chart indicate a support in prices at 1054$ . If market break this and sustain below our intraday support then expect another trading session favoring bears upto 1048$ – 1040$ today .
Gold forecast conclusion : Gold trend is still weak . Avoid any major buy trade for now .
Silver outlook
Silver price did not crash like gold . Its standing firm since yesterday . Currently price trading at 14.20$ . A good support on silver chart at 13.98$ . Once market break this and sustain below our intraday support then expect 13.70$ – 13.50$ and more pain in silver and for its buyers .
Silver chart indicate a resistance at 14.50$ . Once market manage to break this and sustain above our intraday trading resistance then expect silver to favor bulls upto 14.75$ – 14.90$ today .
Silver outlook conclusion : Silver trend is weak . Avoid any major buy trade for now .
Today’s major Data to watch :
US Building Permits ( Oct )
US Housing Starts ( Oct )
Crude oil inventories
US Fed minutes
More will update to our trading signals subscribers .