Gold analysis
Comex gold ( xauusd ) price trading at 1279$ , it fired last night and our subscribers enjoyed as we were long in this major commodity . A good resistance on daily chart stands at 1285$ , once traders break this major barrier and manage to sustain trade above our resistance today , then expect more firepower in this precious metal upto 1292$ – 1299$ .
A good support on daily chart stands at 1268$ , if traders take this base out and manage to sustain trade below our support today , then expect more pressure on this major commodity upto 1261$ -1255$ today .
Gold technical analysis conclusion : Comex gold trend is flat to positive for now .
Silver analysis
Comex silver ( xagusd ) price trading at 17.13$ , it tested 17.25$ again and retraced back . This 17.25$ is major hurdle which need to be broken in order to resume fresh firepower in this major commodity . Once this hurdle is out and traders manage to sustain trade above our resistance , then expect more firepower in this major commodity upto 17.48$ – 17.70$ today .
A good base level on daily chart stands at 16.90$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this precious metal upto 16.70$ – 16.50$ .
Silver analysis conclusion : Comex silver trend is flat to positive for now .
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