Gold trend
Gold ( xauusd ) price trading at 1316$ . Its trading in a small range since yesterday . Market must be waiting for Fomc meeting outcome which is tomorrow . Today gold has a good daily support on chart at 1307$ . Once this support in out and bears manage to trade below this level . Then expect this precious metal to test upto 1300$ – 1291$ today .
A good resistance on intraday gold chart stands at 1325$ . If traders break this major hurdle and manage to sustain trade above our resistance today . Then expect this precious metal to test upto 1333$ – 1341$ today .
Gold trend conclusion : Xauusd trend is flat to positive for now .
Silver trend
Silver ( xagusd ) price trading at 19.20$ . Its trading in a narrow range since yesterday . After it made high 19.30$ yesterday it kept itself in a small range . A good support on daily silver chart stands at 18.90$ . If traders break this major base level and manage to sustain trade beneath our level today . Then expect this major commodity to test upto 18.70$ – 18.47$ today .
A good hurdle on daily silver chart stands at 19.41$ . If traders break this major hurdle and manage to sustain trade above our resistance today . Then expect this major commodity to test upto 19.64$ – 19.86$ today .
Silver trend conclusion : Xagusd trend is flat to positive for now .
More will update to our trading signal subscribers .