Silver analysis
Comex silver ( xagusd ) price trading at 17$ , its trading under pressure since last night and tested 16.90$ . A good support on daily chart stands at 16.85$ , if traders break this major base and manage to sustain trade below our support today . Then expect more pressure on this major commodity upto 16.70$ – 16.51$ today .
A good resistance on daily chart stands at 17.25$ , once this major barrier is out and price manage to sustain trade above 17.25$ , then expect more firepower in this precious metal upto 17.48$ – 17.70$ .
Silver analysis conclusion : Comex silver trend is flat for now , below support it would become weak .
Technical analysis Gold
Comex gold ( xauusd ) price trading at 1277$ , its trading almost flat since last night and maintaining its movement in positive territory . A good base level on daily chart stands at 1270$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this major commodity upto 1262$ – 1255$ today .
A good hurdle on daily chart stands at 1286$ , if traders break this major hurdle and manage to sustain trade above our resistance today . Then expect good recovery in this precious metal upto 1292$ – 1299$ .
Gold technical analysis conclusion : Comex gold trend is flat for now , avoid any major sell or buy without proper stoploss .
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