Gold analysis
Comex Gold ( xauusd ) price trading at 1330$ , yesterday it tested 1315.50$ and bounced back , 1315$ was our signal target . Market is holding on higher levels as North Korea again fire missile and again same tensions of war looming . All eyes on how US responds on this new missile test and how president trump proceeds . A good support on daily chart stands at 1322$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this major commodity upto 1314$ – 1305$ today .
A good resistance on daily chart stands at 1339$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in xauusd prices upto 1347$ – 1356$ .
Gold analysis conclusion : Comex xauusd trend is flat to positive for now .
Silver analysis
Comex Silver ( xagusd ) price tested below 17.60$ yesterday and then came back at 17.80$ . A good base level on daily chart stands at 17.48$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this precious metal upto 17.26$ – 17.05$ .
A good hurdle on daily chart stands at 18.05$ , if traders take this hurdle out and mange to sustain trade above our resistance today . Then expect more firepower in this major commodity upto 18.28$ – 18.55$ today .
Silver analysis conclusion : Comex xagusd trend is flat to positive for now .
We have retail sales and Industrial production data from US today . Stay cautious .
More will update to our trading signals subscribers .