Gold analysis
Comex gold ( xauusd ) price trading at 1277$ , last night it fired after our buy signal initiated near 1272.50$ and tested 1279$ . A good support on daily chart stands at 1269$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this major commodity upto 1262$ – 1255$ today .
A good resistance on daily chart stands at 1283$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect good recovery in this precious metal upto 1291$ – 1299$ .
Gold technical analysis conclusion : Comex gold trend is flat to positive for now , avoid any selling .
Silver analysis
Comex silver ( xagusd ) price trading at 16.86$ , its also trading higher since yesterday . A good base level on daily chart stands at 16.70$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this major commodity upto 16.50$ – 16.30$ today .
A good resistance 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 upto 17.30$ – 17.55$ .
Silver technical analysis conclusion : Comex silver trend is flat to positive for now .
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