Gold forecast
Gold ( xauusd ) price crashed last night after US data and we enjoyed it as we sold our position near 1208$ for 1200$ target . Currently its trading at 1186$ . A good support on daily chart stands at 1178$ . If traders manage to break this base level and sustain trade beneath our support today . Then expect gold price to test upto 1170$ – 1161$ today .
A good resistance on daily chart stands at 1193$ . If traders break this major hurdle and manage to sustain trade above our resistance . Then expect gold prices to get a breather upto 1200$ – 1207$ today .
Gold forecast conclusion : Xauusd trend is weak for now .
Silver forecast
Silver ( xagusd ) price crashed last night and we enjoyed it as our sell signal initiated at 16.72$ for target of 16.49$ . Currently prices are trading at 16.30$ . A good base level stands on chart at 16$ . Once traders break this level and manage to sustain trade beneath our support today . Then expect silver price to test upto 15.80$ – 15.65$ today .
A good hurdle on daily chart stands at 16.55$ . Once traders take this hurdle out and manage to sustain trade above our resistance today . Then expect silver prices to test upto 16.78$ – 17$ today .
Silver forecast conclusion : Xagusd trend is weak for now .
More will update to our trading signal subscribers .