Silver forecast
Silver ( xagusd ) prices tested 21$ yesterday and it kept testing higher levels in absense of good volume due to US independence day . In today’s session it crashed pretty good and currently prices are trading beneath 20$ . A good support on intraday silver chart stands at 19.68$ . If traders break this major support and manage to sustain trade beneath our support today . Then expect this major commodity to test upto 19.40$ – 19.20$ today .
A good resistance on intraday silver chart stands at 20.20$ today . If traders break this major hurdle and manage to sustain trade above our resistance today . Then expect this major commodity to gear up for another fresh bull ride upto 20.45$ – 20.70$ today .
Silver forecast conclusion : Silver trend is flat to weak for now . Expecting some consolidation in prices today .
Gold forecast
Gold ( xauusd ) prices tested 1357$ yesterday and it kept testing higher levels . Infact it was holding pretty well above 1350$ in yesterdays trading session . Today it tested below 1340$ and currently prices are trading at 1344$ . A good support on intraday gold chart stands at 1338$ . If traders break this major support and manage to sustain trade beneath our support today . Then expect this precious metal to test upto 1330$ – 1321$ today .
A good resistance on intraday gold chart stands at 1351$ . If traders break this major hurdle and manage to sustain trade above our resistance today . Then expect this precious metal to test upto 1358$ – 1366$ today .
Gold forecast conclusion : Gold trend is flat to weak for now .
More will update to our trading signal subscribers .