gold ( xauusd) silver ( xagusd ) trend 16 october

By | October 16, 2015

Gold ( xauusd ) trend

Gold ( xauusd ) ltrading ower from yesterday at 1177$ . Last night major data from US did not came in favour of gold .After that it started feeling pressure since then . It retraced from 1191$ to 1175$ odd range and now it has good support at 1166$ once comex gold market break this and sustain below this major level then expect bears to have upper hand upt o1152$ – 1140$ today .

If gold price click our resistance at 1192$ and manage to sustain above our this level then expect comex gold to party upto 1200$ – 1207$ today .

Gold ( xauusd ) trend conclusion : Gold trend is flat for now and momentum is weak . Again we have Industrial production data in US session which may send gold in negative zone or 1200$ zone , so stay cautious in gold trading .

Silver ( xagusd ) trend

Silver ( xagusd ) trading above 16$ and its sustaining well above 16$ , for now a good resistance in silver at 16.25$ once comex silver market break this and sustain above this level then expect bulls to have party upto 16.55$ – 16.80$ today

If silver price breaks our technical support today at 15.75$ and sustain below our this level then expect comex silver to correct upto 15.50$ – 15.30$ and even more

Silver trend conclusion : Silver trend is flat for now

More will update to our subscribers

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