Gold forecast
Last night fed tried to give push gold down but early morning Bank of Japan reversed the position and pump the prices . Currently prices are zooming at 1254$ . A good support on gold chart stands at 1242$ . If traders break this major support zone and manage to sustain beneath our support today . Then expect this precious metal to face some consolidatiion upto 1233$ – 1227$ today .
A good resistance on gold chart stands at 1262$ . If traders break this hurdle and manage to sustain above our resistance today . Then expect xauusd to test upto 1271$ – 1280$ today .
Gold forecast conclusion : Trend is positive for now . But fresh buy should be wait for dip .
Silver forecast
Silver ( xagusd ) tried to test 17$ last night but now its roaming at 17.35$ . A good resistance on silver chart stands at 17.56$ . If traders break this hurdle and manage to sustain trade above our resistance today . Then expect this precious metal to zoom upto 17.80$ – 18$ today .
A good support on silver chart stands at 16.98$ . If traders manage to break this support and sustain beneath our support today . Then expect xagusd to correct upto 16.75$ – 16.50$ today .
Silver forecast conclusion : Trend is flat to positive for now .
Today we have US gdp numbers . So take an extra cautios approach near data .
More will update to our trading signal subscribers .