Comex Gold ( xauusd ) price trading at 1182$ . Its trading almost at lowest point of the day . Yesterday it crashed from 1200$ odd levels till 1184$ . We enjoyed this crash as our sell signal initiated at 1195$ for 1187$ . For today it has a good support at 1175$ . If trader breaks this major base level and manage to sustain trade beneath our support today . Then expect gold prices to test upto 1166$ – 1155$ today .
A good resistance on daily chart stands at 1196$ . If trader breaks this major hurdle and manage to sustain trade above our resistance today . Then expect gold price to test upto 1207$ – 1217$ today .
Gold forecast conclusion : Comex Xauusd trend is weak for now .
Comex Silver ( xagusd ) price trading at 16.70$ . Its also facing power of bears as its cracked from 17$ level yesterday . A good base level on chart stands at 16.47$ . If trader take this support out and manage to sustain trade beneath this level . Then expect more pressure from sellers side upto 16.26$ – 16.02$ today .
A good hurdle on daily chart stands at 17$ . If trader takes this hurdle out and manage to sustain trade above our resistance today . Then expect silver prices to test upto 17.20$ – 17.42$ today .
Silver forecast conclusion : Comex Silver trend is weak for now .
More will update to our trading signals subscribers .