Weekly Gold forecast
Last week Comex Gold ( xauusd ) prices tested 1270$ after US fired missile on syrian airfield and other military bunkers . However it cooled off very quickly as it erased almost all the gains and closed below 1255$ from its peak level . A good resistance on weekly technical chart stands at 1276$ . If traders breaks this major hurdle and manage to close above our resistance this week . Then expect more power to gold buyers upto 1305$ – 1333$ this week .
A good support on weekly technical chart stands at 1230$ . If traders take this support out and close beneath our weekly base level . Then expect bears to regain power and drag gold prices upto 1202$ – 1170$ this week .
Weekly Gold forecast conclusion : Comex Xauusd trend is positive on chart for upcoming week .
Weekly Silver forecast
Last week Comex Silver ( xagusd ) prices hammered in last trading session . It was resisting upside in beginning and when market started correcting it literally burned down all the buyers . A good base level on weekly technical chart stands at 17.50$ . If traders breaks this major base and manage to close beneath our support this week . Then expect more downside in silver prices upto 17.05$ – 16.60$ .
A good hurdle on weekly chart stands at 18.55$ . If traders take this hurdle out and manage to close above our resistance . Then expect buyers to take charge again upto 18.99$ – 19.45$ this week .
Weekly Silver forecast conclusion : Comex silver trend is positive for upcoming week .
We have trade balance data from China and some other important data from US . Keep an eye .
More will update in daily forecast update .
Read our last week Gold Silver forecast by clicking here
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