Gold trend
Comex Gold ( xauusd ) price trading at 1204$ right now . It felt till 1197$ odd level last night and reverted back on old levels . A good support on daily chart stands at 1194$ . If traders breaks this major base and manage to sustain trade beneath our support today . Then expect gold price to test upto 1187$ – 1180$ today .
A good resistance on daily chart stands at 1209$ . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect some breather to gold buyers upto 1217$ – 1227$ today .
Gold trend conclusion : No major trend for now as we have FOMC meet tonight .
Silver trend
Comex Silver ( xagusd ) price trading a little bit weaker as it tested below 16.85$ but it could not sustain the lower levels and bounced back . Currently prices are flirting with 17$ . A good base level on daily chart stands at 16.80$ . If traders breaks this major base level and manage to sustain trade beneath our support today . Then expect some pressure in silver prices upto 16.60$ – 16.40$ today .
A good hurdle on daily chart stands at 17.15$ . If traders breaks this major hurdle and manage to sustain trade above our resistance today . Then expect some breather upto 17.40$ – 17.60$ today .
Silver trend conclusion : No major trend is silver prices for now .
More will update to our trading signals subscribers .