Gold forecast
Gold ( xauusd ) price trading higher since opening . Currently trading at 1121$ . A major hurdle on intraday chart at 1128$ . It need to fire above this and manage to sustain trading above our resistance . Once traders fulfill this condition with sufficient volume . Then expect gold to fire upto 1137$ – 1149$ today .
A good support on intraday gold chart at 1108$ . This is main support and major level between bears and bulls today . Once traders manage to break this and sustain trade below this level . Then expect selling pressure in this yellow metal upto 1100$ – 1091$ today .
Gold forecast conclusion : Trend is positive for now . Buy in dips would be good strategy .
Silver forecast
Silver ( xagusd ) opened slightly higher . Currently prices are trading at 14.30$ . A major hurdle on intraday chart stands at 14.55$ in its way to fire . Once traders take this resistance out and manage to trade above this level . Then expect a complete firepower in silver upto 14.80$ – 15$ and even more upper levels not ruled out .
A good support on intraday silver chart at 14$ . If traders manage to break this support and sustain trade beneath this level . Then expect xagusd to correct upto 13.80$ – 13.60$ today .
Silver forecast conclusion : Trend is positive for now .
More will update to our trading signal subscribers .