Weekly Gold Silver forecast February end 2017

By | February 26, 2017

Weekly Gold forecast

Comex Gold ( xauusd ) prices fired last week as it broke the range above 1240$ and tested 1260$ . A good resistance on weekly chart stands at 1291$ . If trader breaks this major hurdle and manage to close above our resistance this week . Then expect more power to gold bulls upto 1320$ – 1355$ this week .

A good support on weekly chart stands at 1220$ . If trader breaks this major base level and manage to close beneath our support this week . Then expect pressure in gold prices upto 1190$ – 1160$ this week .

Weekly Gold forecast conclusion : Comex Gold trend is positive for upcoming week .

Weekly Silver forecast

Comex Silver ( xagusd ) price fired above 18$ and stayed above major hurdle of 18.25$ easily last week . A good hurdle on weekly chart now stands at 18.70$ . If trader breaks this major hurdle and manage to close above our resistance this week . Then expect more power to  silver bulls upto 19.20$ Р19.70$ this week .

A good base level on weekly chart stands at 17.70$ . If trader takes this support out and manage to close beneath our support this week . Then expect more power to silver bears upto 17.20$ – 16.70$ upcoming week .

Weekly Silver forecast conclusion : Comex silver trend is positive for upcoming week .

We have GDP data this week from US and Fed chairman speech this week . Keep an eye on these two major data for better idea about trend for upcoming days .

More will update in daily forecast update .