Silver Gold analysis 3rd week October 2017

By | October 15, 2017

Gold analysis

Comex gold ( xauusd ) price fired and we enjoyed this fire as our last two intraday signal were in buy . It closed at highest point of the week at 1303$ . This week we have China’s quarterly GDP numbers which will determine the fate of precious metals for upcoming week . A good resistance on weekly chart stands at 1332$ , if traders take this hurdle out and manage to close above our resistance today . Then expect more firepower in this precious metal upto 1355$ – 1380$ this week .

A good support on weekly chart stands at 1280$ , if traders take this base out and manage to close below our support today . Then expect some pressure on this major precious metal upto 1250$ – 1225$ .

Gold analysis conclusion : Comex xauusd trend is positive , avoid any major selling without proper stoploss .

Silver analysis

Comex silver ( xagusd ) price fired and closed at highest point of the week at 17.37$ . We have yearly China’s industrial production this week as well which will also give direction to precious metals prices . A good base level on weekly chart stands at 16.90$ , if traders take this base out and manage to close below our support . Then expect more pressure on this major commodity upto 16.50$ – 16.05$ .

A good hurdle on weekly chart stands at 17.80$ , if traders take this hurdle out and manage to close above our resistance . Then expect more firepower in this major commodity upto 18.30$ – 18.90$ .

Silver analysis conclusion : Comex xagusd trend is positive .

Read last week’s analysis here

More will update to our trading signals subscribers .

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  1. Pingback: Crude oil & Wall street analysis 16 october 2017 . Best fx signal provider

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