Gold analysis
Comex gold ( xauusd ) price trading at 1274$ , It just recovered from 1269$ and now sailing near highest point of the day . A good support on daily chart stands at 1265$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this precious metal upto 1259$ – 1252$ today .
A good resistance on daily chart stands at 1282$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in this major commodity upto 1291$ – 1299$ .
Technical analysis gold conclusion : Gold trend is flat to weak for now , once it cross our hurdle then trend would turn positive .
Silver analysis
Comex silver ( xagusd ) price trading at 16.85$ , its trading near day’s high . A good hurdle on daily chart stands at 17.05$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in this precious metal upto 17.28$ – 17.54$ today .
A good base level on daily chart stands at 16.65$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this major commodity upto 16.42$ – 16.21$ .
Silver analysis conclusion : Silver trend is flat to positive for now .
Read our yesterday’s analysis here
Major data today can be seen here
More will update to our trading signals subscribers .