Gold Silver trend daily update 29th september 2016

By | September 29, 2016

Gold trend

Gold ( xauusd ) price trading at 1322$ . Yesterday it made low at 1318$ but could not break our support and bounced back till 1325$ from there . A good support on daily chart stands at 1318$ . If traders break this major base level and manage to sustain trade beneath our support today . Then expect gold prices to test upto 1308$ – 1300$ today .

A good resistance on gold chart stands at 1332$ today . If traders break this major hurdle and manage to sustain trade above our resistance today . Then expect this precious metal to test upto 1340$ – 1348$ today .

Gold trend conclusion : Xauusd trend is weak for now .

Silver trend

Silver ( xagusd ) price trading at 19.15$ . Yesterday it tested below 19$ but could not sustain there and fought back till 19.40$ . A good support on daily chart stands at 18.90$ . If traders break this major base level and manage to sustain trade beneath our level today . Then expect silver prices to crash upto 18.70$ – 18.50$ today .

A good hurdle on silver daily chart stands at 19.50$ . If traders break this major hurdle and manage to sustain trade above our resistance today . Then expect this major commodity to test upto 19.70$ – 19.90$ today .

Silver trend conclusion : Xagusd trend is weak for now .

We have US GDP numbers today . It would be crucial for upcoming trend . Stay cautious .

More will update to our trading signal subscribers .

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