Gold forecast
Gold ( xauusd ) price trading at 1209$ . Since yesterday its trading in a small range from 1200 to 1214$ . A good support on intraday gold chart at 1198$ . If traders break this support and manage to trade below this level . Then expect xauusd to support sellers upto 1190$ – 1181$ in today’s trading session .
A good resistance on intraday gold chart at 1218$ . If traders break this hurdle and manage to trade above this level . Then expect xauusd to support buyers upto 1227$ – 1236$ in today’s trading session .
We have US unemployment claims data and crude oil inventory today . So do not trade big qty . These two big data could give a further trend on precious metals .
Gold forecast conclusion : Trend is flat to negative for now . Stay cautious .
Silver forecast
Silver ( xagusd ) price trading at 15.26$ . A good support on intraday silver chart at 15$ . Once this support is broken by traders and they manage to trade beneath this support . Then expect xagusd to face mild consolidation upto 14.80$ – 14.60$ in today’s trading session .
A good resistance on intraday silver chart ar 15.50$ . If traders break this hurdle and manage to trade above our daily resistance . Then expect silver to test upto 15.80$ – 16$ in today’s trading session .
Silver forecast conclusion : Trend is flat to negative for now .
More will update to our trading signal subscribers .