daily gold silver forecast july 29th 2016

By | July 29, 2016

Gold forecast

Gold ( xauusd ) price trading at 1334$ . Yesterday it tested 1345$ and then retraced back from 1345$ till 1333$ . It opened lower today as prices tested 1328$ and then recovered from there . A good support on intraday gold chart stands at 1327$ . If traders break this major support level and manage to sustain trade beneath our support today . Then expect this precious metal to test upto 1320$ – 1311$ today .

A good resistance on intraday gold chart stands at 1341$ . If traders break this major hurdle and manage to sustain trade above our resistance today . Then expect this precious metal to test upto 1348$ – 1356$ today .

Gold forecast conclusion : Xauusd trend is flat to weak for now .

Silver forecast

Silver ( xagusd ) prices tested 20.52$ yesterday and we cashed this movement as our buy signal initiated at 20.29$ for target of 20.50$ . After our signal’s target it kept retracing back and tested 20.15$ zone . Currently prices are trading even lower than that at 20.10$ . A good support on intraday silver chart stands at 19.90$ . If traders break this major support level and manage to sustain trade beneath our support today . Then expect this major commodity to test upto 19.70$ – 19.48$ today .

A good resistance on silver chart stands at 20.32$ . If traders break this major hurdle and manage to sustain trade above our hurdle today . Then expect this major commodity to test upto 20.52$ – 20.75$ today .

Silver forecast conclusion : Xagusd trend is flat to weak for now .

More will update to our trading signal subscribers .