Gold analysis
Comex gold ( xauusd ) price trading at 1312$ , it recovered from yesterday’s low and trading with good volumes . A good support on daily chart stands at 1304$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this major commodity upto 1298$ – 1290$ today .
A good resistance on daily chart stands at 1321$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more recovery in this precious metal prices upto 1329$ – 1337$ .
Gold analysis conclusion : Comex xauusd trend is flat to positive for now .
Silver analysis
Comex silver ( xagusd ) price trading at 17.30$ , A good base level on daily chart stands at 17$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this precious metal upto 16.80$ – 16.60$ today .
A good hurdle on daily chart stands at 17.55$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in this major commodity upto 17.78$ – 17.99$ .
Silver analysis conclusion : Comex xagusd trend is flat to positive for now .
We have crucial Fed decision on interest rate and tomorrow we have Japan’s monetary policy . So its better we stay lite in our position and trade with minimum qty untill these events are clear and give a better picture .
More will update to our trading signals subscribers .