Gold Silver price trend 18th November 2016

By | November 18, 2016

Gold trend

Gold ( xauusd ) price crashed further after US data came last night . Currently prices are trading at 1208$ . A good support on daily chart stands at 1198$ today . Once traders break this major base level and manage to sustain trade beneath our support today . Then expect gold prices to test upto 1192$ – 1184$ today .

A good resistance on daily chart stands at 1219$ . Once traders break this major hurdle and manage to sustain trade above our resistance . Then expect gold prices to test upto 1227$ – 1235$ today .

Gold forecast conclusion : Xauusd trend is weak for now .

Silver forecast

Silver ( xagusd ) price trading at 16.65$ . A good base level on daily chart stands at 16.42$ . Once traders take this support out and manage to sustain trade beneath our support today . Then expect silver prices to test upto 16.21$ – 16.01$ today .

A good hurdle on daily chart stands at 16.86$ . Once traders break this major hurdle and manage to sustain trade above our resistance today . Then expect silver prices to test upto 17.08$ – 17.28$ today .

Silver forecast conclusion : Xagusd trend is weak for now .

We have ECB chairman Mario Draghi speech today . So stay cautious .

More will update to our trading signal subscribers .