Gold forecast
Comex Gold ( xauusd ) price trading at 1243$ . Its trading weaker since yesterday after US GDP came better than expected but it did not really crashed and holding pretty good considering the weakness its showing on chart . A good support on technical chart stands at 1235$ . If traders breaks this major base and continue trading below this level . Then expect more downside in gold rates upto 1227$ – 1220$ today .
A good resistance on technical chart stands at 1252$ . If traders breaks this major hurdle and manage to sustain trade above 1252$ today . Then expect gold buyers to take charge once again upto 1260$ – 1268$ today .
Gold forecast conclusion : Comex xauusd prices looking tired and may crash . Avoid any major buying .
Silver forecast
Comex Silver ( xagusd ) price trading at 18.09$ . A good base level on technical chart stands at 17.90$ . If traders breaks this major base and continues trade below this level . Then expect upper hand by bears upto 17.70$ – 17.50$ today .
A good hurdle on daily chart stands at 18.32$ . If traders breaks this major hurdle and manage to sustain trade above our resistance today . Then expect buyers to take charge once again and test silver rate upto 18.54$ – 18.75$ today .
Silver forecast conclusion : Comex silver trend is flat for now .
More will update to our trading signals subscribers .