Gold forecast
Gold ( xauusd ) price crashed yesterday and tested below 1230$ . We cashed this complete move as our positional signal sell initiated at 1270$ and we booked our profit in 1240$ zone . Currently prices are trading even lower than that . Its flirting with 1225$ . A good support on gold chart stands at 1217$ . If traders break this major level and manage to sustain beneath our support today . Then expect this precious metal to correct upto 1208$ – 1200$ today .
A good resistance on gold chart stands at 1232$ . If traders break this major hurdle and manage to sustain trade above our resistance today . Then expect this commodity to fire upto 1240$ – 1247$ today .
Gold forecast conclusion : Xauusd trend is weak for now . Avoid any major buy trade .
Silver forecast
Silver ( xagusd ) price trading at 16.24$ . It crashed pretty hard in last 2 days and we cashed its full crash . We initiated our positional sell signal at 17$ and we booked below 17.30$ . A good support on silver chart stands at 16$ . If traders break this major level and manage to sustain trade beneath our support today . Then expect this commodity to test upto 15.70$ – 15.50$ today .
A good resistance on silver chart stands at 16.55$ . If traders break this hurdle and manage to sustain trade above our hurdle today . Then expect this precious metal to test upto 16.75$ – 16.99$ today .
Silver forecast conclusion : Xagusd trend is weak for now . Avoid any buy position .
More will update to our trading signal subscribers .