Silver Gold analysis 17 october 2017

By | October 17, 2017

Gold analysis

Comex gold ( xauusd ) price crashed last night from 1306$ to 1292$ , currently prices are trading at 1289$ . A good support on daily chart stands at 1284$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this major commodity upto 1277$ – 1270$ today .

A good resistance on daily chart stands at 1297$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in this precious metal upto 1304$ – 1311$ .

Gold analysis conclusion : Comex gold trend is weak for now .

Silver analysis

Comex silver ( xagusd ) price crashed from 17.45$ to 17.15$ last night . Currently prices are flirting with 17$ as it hovers around 17.10$ . 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 major commodity upto 16.70$ – 16.50$ today .

A good hurdle on daily chart stands at 17.35$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower on this precious metal upto 17.55$ – 17.80$ .

Silver analysis conclusion : Comex silver trend is weak for now .

Read oil & dow jones analysis here

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