Gold forecast
Gold ( Xauusd ) price trading at 1237$ . Yesterday it hit 1253$ and crashed 30$ from there within hours . Its highly volatile . Yesterday we seen major movement due to crude oil inventory . We already stated that gold nowdays moving with crude oil . If crude oil price goes up gold tends to come down . However a good support on today’s chart at 1220$ . If traders break this hurdle and manage to sustain above our resistance today . Then expect market to support sellers upto 1208$ – 1200$ today .
A good support on daily gold chart at 1255$ . If traders break this hurdle and manage to sustain above our resistance today . Then expect market to zoom upto 1266$ – 1281$ today .
Gold forecast conclusion : Trend is highly volatile . Do not trade in bulk qty today .
Silver forecast
Silver ( xagusd ) price trading at 15.25$ . Yesterday it fired once again and cracked . It made high of 15.55$ which signals a double top . But still we will take a caution note for now . A good support on intraday silver chart at 15$ . If traders break this level and manage to sustain below our today’s support . Then expect market to correct upto 14.70$ – 14.50$ today .
A good resistance on silver daily chart at 15.55$ . If traders break this hurdle and manage to sustain above our resistance . Then expect market to zoom upto 15.81$ – 16.05$ today .
Silver forecast conclusion : Trend is highly volatile .
More will update to our trading signal subscribers