Gold forecast
Comex Gold ( xauusd ) prices crashed even further last night . We enjoyed the crash as we were holding our sell positions from 1242-45$ zone . Currently prices are trading at 1217$ . A good support on daily chart stands at 1208$ . If traders breaks this major base level and manage to sustain trade beneath our support today . Then expect gold price to test more upto 1200$ – 1190$ today .
A good resistance on daily chart stands at 1227$ . If traders breaks this major base level and manage to sustain trade beneath our support today . Then expect gold price to fire upto 1234$ – 1242$ today .
Gold forecast conclusion : Comex xauusd trend is weak for now .
Silver forecast
Comex Silver ( xagusd ) price trading at 17.48$ . It cracked last night once more and its showing no sign of recovery . A good base level on daily chart stands at 17.25$ . If traders breaks this major base level and manage to sustain trade beneath our support today . Then expect silver price to test upto 17.05$ – 16.80$ today .
A good resistance on daily chart stands at 17.70$ . If traders breaks this major hurdle and manage to sustain trade above our resistance today . Then expect silver prices to fire upto 17.92$ – 18.12$ today .
Silver forecast conclusion : Comex xagusd trend is weak for now .
Today we have ADP Non farm employment data from US . Stay cautious .
More will update to our trading signals subscribers .