daily technical analysis gold silver 18 oct 2017

By | October 18, 2017

Gold technical analysis

Comex gold ( xauusd ) price trading at 1285$ , since yesterday this precious metal is making lows and counting new low levels in every 2-3 hours . A good support on daily technical chart stands at 1277$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this major commodity upto 1270$ – 1262$ today .

A good resistance stands at 1292$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect some recovery in this precious metal upto 1299$ – 1307$ .

Gold technical analysis conclusion : Gold trend is weak for now .

Silver technical analysis

Comex silver ( xagusd ) price trading at 17.02$ . Last night it tested 16.96$ and currently its tempting to break 17$ again . 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 17.25$ , if traders take this hurdle out and manage to sustain trade above our resistance today , then expect more firepower in this precious metal upto 17.47$ – 17.70$ .

Silver technical analysis conclusion : Silver trend is weak for now .

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Read our yesterday’s levels here

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2 thoughts on “daily technical analysis gold silver 18 oct 2017

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