Gold analysis

Comex Gold ( xauusd ) price trading at 1322$ , yesterday it crashed from 1339$ till 1321$ and its still trading near lowest point of the day . A good support on daily chart stands at 1315$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this precious metal upto 1308$ – 1300$ today .

A good resistance on daily chart stands at 1328$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower upto 1336$ – 1342$ today .

Gold analysis conclusion : Comex xauusd trend is weak for now , avoid any major buy for now .

Silver analysis

Comex Silver ( xagusd ) price trading at 17.67$ , it crashed from 18$ to 17.70$ yesterday as our sell signal initiated last night at 17.90-92$ range . A good base level on daily chart stands at 17.45$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this precious metal upto 17.25$ – 17.05$ today .

A good hurdle on daily chart stands at 17.92$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect some rise in this commodity price upto 18.15$ – 18.40$ today .

Silver analysis conclusion : Comex xagusd trend is weak for now .

We have UK monetary policy and US unemployment claims today . Keep an eye on both events .

More will update to our trading signals subscribers .

By marafat