Gold forecast
Gold ( xauusd ) price trading at 1191$ . Yesterday again it tested 1200$ zone but it could not cross the hurdle and reverted back from our resistance level . Intraday chart again shows same resistance at 1202$ . If traders manage to pull this resistance up and sustain trading above our resistance . Then expect market to fire upto 1208$ – 1217$ .
A good support on gold intraday chart at 1182$ . If traders manage to break this support and sustain trade below our support . Then expect a mild consolidation in xauusd upto 1174$ – 1166$ . Main panic level is 1165$ .
Gold forecast conclusion : Gold trend is flat for now . Stay cautious on higher levels .
Silver forecast
Silver ( xagusd ) price trading at 15.22$ . Slightly lower today as it dipped from 15.32$ – 15.22$ . A good support on intraday chart at 15.05$ . If traders manage to break our support and sustain trade below our level . Then expect market to face mild correction upto 15.05$ – 14.80$ .
A good resistance on intraday silver chart at 15.50$ . If traders break this hurdle and manage to trade above our resistance . Then expect market to zoom upto 15.76$ – 16$ today .
Silver forecast conclusion : Silver looking exhausted . Avoid any buy for now .
More will update to our trading signal subscribers .