Gold forecast
Gold ( Xauusd ) price trading at 1228$ . Yesterday it cracked till 1217$ and bounced back after that . We extracted profits from sell as we initiated our signal to sell xauusd at 1226$ and we booked profits at 1218$ . Today gold chart shows a resistance in gold price at 1238$ . If traders break this hurdle and manage to sustain above our daily resistance . Then expect xauusd to zoom upto 1244$ – 1251$ today .
A good support on daily gold chart at 1217$ . If traders break this support and manage to sustain beneath our support . Then expect xauusd to test upto 1208$ – 1200$ today .
Gold forecast conclusion : Trend is positive for now . Avoid any selling .
Silver forecast
Silver ( xagusd ) price trading at 15.12$ . Yesterday we cashed this commodity in mcx . Today silver chart shows a resistance on chart at 15.31$ . If traders break this hurdle and manage to sustain trade above this level . Then expect xagusd to zoom upto 15.53$ – 15.75$ today .
A good support on silver chart stands at 14.88$ . If traders break this base level and manage to sustain beneath our support today . Then expect xagusd to correct upto 14.60$ – 14.30$ today .
Silver forecast conclusion : Trend is positive for now .
Today we have ECB chairman speech and US unemployment claims data . So stay cautious . Both are major economic event so do not trade in bulk qty around data time .
More will update to our trading signal subscribers .