Gold forecast
Gold ( xauusd ) price trading at 1219$ . It opened lower and tested 1212$ today . All buyers are still finding it tough to avail the reality that its one down despite Trump elected as a president . Even i am getting many emails why its down . Well it was near 1260$ when US elected its news president . After that it fired approx 65-70$ to discount that news . Then Mr. Trump sounded a bit soft while addressing nation after his win . It gave a signal that he might not be that tough in future .
Coming on technical , A good support on daily gold chart stands at 1208$ . If traders break this major base level and manage to sustain trade beneath our support . Then expect gold prices to crack upto 1201$ – 1192$ today .
A good resistance on daily gold chart stands at 1231$ . Once traders break this major hurdle and manage to sustain trade above our resistance today . Then expect gold prices to recover upto 1239$ – 1247$ today .
Gold forecast conclusion : Xauusd trend is weak for now .
Silver forecast
Silver ( xagusd ) price trading at 17.22$ . It crashed last week badly . A good base level on silver chart stands at 16.90$ . If traders break this major base level and manage to sustain trade beneath our support today . Then expect silver prices to test upto 16.70$ – 16.50$ today .
A good hurdle on silver chart stands at 17.51$ . Once traders break this major hurdle and manage to sustain trade above our resistance today . Then expect silver prices to test upto 17.75$ – 17.99$ today .
Silver forecast conclusion : Xagusd trend is weak for now .
We have ECB president Mario Draghi speech today . So stay cautious and do not trade bul qty .
More will update to our trading signal subscribers .