Gold analysis
Comex gold ( xauusd ) price trading now at 1283$ , yesterday it tested 1290$ after our buy signal and then again it cracked from highs in morning . A good support on daily chart stands at 1275$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this precious metal upto 1267$ – 1260$ today .
A good resistance on daily chart stands at 1292$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect some recovery in this major commodity upto 1299$ – 1307 .
Gold technical analysis conclusion : Gold trend is flat to positive for now .
Silver analysis
Comex silver ( xagusd ) price trading at 17.17$ , it fired with full guns yesterday and tested above 17.25$ . 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 17.40$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect good recovery in this precious metal upto 17.62$ – 17.84$ .
Silver technical analysis conclusion : Silver trend is positive for now .
Read our yesterday’s forecast levels here
More will update to our trading signals subscribers .