Gold forecast
Gold ( xauusd ) price crashed yesterday from 1285$ zone till 1260$ . We cashed this move as we initiated our sell signal at 1281$ and we booked approx 90 pips profit at 1272$. Currently prices are trading at 1265$ . A good support on gold chart stands at 1258$ . If traders break this major support today and manage to sustain trade beneath this level . Then expect this precious metal to correct upto 1250$ – 1242$ today .
A good resistance on gold chart today at 1276$ . If traders break this major hurdle and manage to sustain trade above our resistance today . Then expect this commodity to test upto 1283$ – 1290$ today .
Gold forecast conclusion : Xauusd trend is weak for now . Avoid any major buy .
Silver forecast
Silver ( xagusd ) trading at 17$ . Yesterday it cracked from 17.40$ zone till 16.90$ . We cashed this move as we initiated our sell signal at 17.40$ and we booked profits at 17.15$ . A good support on silver chart stands at 16.80$ . If traders break this major support today and manage to sustain trade beneath our level today . Then expect this precious metal to correct upto 16.55$ – 16.30$ today .
A good resistance on silver daily chart stands at 17.30$ . If traders break this hurdle and manage to sustain trade above our resistance today . Then expect this commodity to test upto 17.55$ – 17.80$ today .
Silver forecast conclusion : Xagusd trend is weak today . Avoid any major buy trade .
More will update to our trading signal subscribers