Gold price forecast
Gold ( xauusd ) prices trading lower today . It crashed yesterday from highest point of 1162$ till 1144$ . Now trading at 1148$ . We initiated a gold sell signal yesterday at 1154$ after that it kissed lowest level of the day at 1144$ . Today gold will have to break 1138$ and sustain below this intraday support to resume more selling pressure upto 1128$ – 1118$ .
If gold does not break 1138$ and sustain above our today’s resistance at 1166$ then expect bulls to have some relief time upto 1178$ – 1186$ today .
Gold forecast conclusion : Gold trend is weak only . So avoid any buy trade till resistance does not breach .
Silver price forecast
Silver ( xagusd ) price trading at 15.63$ . Yesterday it fell from 16$ to 15.55$ . Now trading at 15.65$ , a good support in silver price at 15.30$ once market break this and sustain below our intraday support then expect bears to have another round of selling upto 15.05$ – 14.80$ today .
If comex silver price manage to click our intraday resistance at 16.05$ and sustain above our resistance then expect market to favour bulls upto 16.30$ – 16.55$ today .
Silver price forecast conclusion : Silver trend is weak for now .
More will update to our Gold silver signals subscribers