Weekly Silver forecast
Last week Comex Silver ( xagusd ) price crushed badly by bears in last 2 trading days . It crashed from 18.40$ odd levels till 17.70$ within hours only . It finally settled the week below 18$ . This week we have a major weekly support on chart at 17.40$ . If traders manage to breaks this base level and close beneath this support . Then expect bears to take charge once again upto 17$ – 16.55$ this week .
A good resistance on weekly chart stands at 18.45$ . If traders breaks this major hurdle and manage to close above our resistance this week . Then expect some breather to silver buyers upto 18.99$ – 19.45$ this week .
Weekly silver forecast conclusion : Comex silver trend is weak for upcoming week .
Weekly Gold forecast
Last week Comex Gold ( xauusd ) price cracked from 1260$ till 1222$ . But it settled on higher side considering how bad it crashed . A good hurdle on weekly chart stands at 1266$ . If traders breaks this major hurdle and manage to close above our resistance . Then expect bulls to take charge upto 1290$ – 1320$ upcoming week .
A good base level on daily chart stands at 1217$ . If traders breaks this major base level and manage to close beneath our support . Then expect more power to gold bears upto 1190$ – 1160$ upcoming week .
Weekly Gold forecast conclusion : Comex Gold trend weak .
We have Non farm payroll and Unemployment rate data from US . So stay cautious .
More will update in daily forecast .