Silver Gold analysis 13 october 2017

By | October 13, 2017

Gold analysis

Comex gold ( xauusd ) price trading at 1298$ , after a small dip yesterday it fired and now trading at highest point of the day . We have monthly retail sales data today from US which will be crucial . A good resistance on daily chart stands at 1308$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in this precious metal upto 1317$ – 1325$ today .

A good support on daily chart stands at 1288$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this major commodity upto 1280$ – 1270$ .

Gold analysis conclusion : Comex xauusd trend is positive for now , avoid any selling for now .

Silver analysis

Comex silver ( xagusd ) price trading at 17.30$ , it tested 17.33$ and currently trading near highest point of the day . A good base level on daily chart stands at 17.05$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this major commodity upto 16.80$ – 16.60$ today .

A good hurdle on daily chart stands at 17.55$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower on this precious metal upto 17.77$ – 17.99$ .

Silver analysis conclusion : Comex xagusd trend is positive for now , avoid any sell trade .

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