Gold forecast
Gold ( xauusd ) price trading at 1219$ . Yesterday also we updated our forecast on these levels . Its not moved since yesterday and just trading in same range . Today gold chart shows a resistance at 1228$ . If traders break this hurdle and manage to trade above our resistance today . Then expect gold to zoom upto 1237$ – 1248$ today .
A good support on gold chart stands at 1207$ . If traders break this major base support and manage to sustain beneath our today’s support . Then expect xauusd to correct upto 1200$ – 1191$ today .
Gold forecast conclusion : Trend is flat for now . Avoid any major buy or sell without any stoploss .
Silver forecast
Currently silver ( xagusd ) prices are trading at 15.18$ . It tried to push resistance yesterday as it made high around 15.36$ . But it could not sustain on higher levels and fell from there . A good support on silver chart stands at 14.98$ . If traders break this base support and manage to sustain beneath our today’s support . Then expect xagusd to correct upto 14.75$ – 14.50$ today .
A good resistance on silver chart stands at 15.50$ . If traders break this hurdle and manage to sustain above our today’s resistance . Then expect xagusd to zoom upto 15.85$ – 16.05$ today .
Silver forecast conclusion : Silver trend is flat to weak now . Avoid any big trade .
Today we have two major events from US .
One is Consumer confidence data and second is fed chairman speech . So avoid any big qty trade today before these two events .
More will update to our trading signal subscribers