Gold analysis
Comex Gold ( xauusd ) price trading at 1269$ . Prices are trading in a small range since yesterday . Market is waiting for manufacturing data from UK & US . A good resistance on daily chart stands at 1278$ . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in this precious metal upto 1286$ – 1292$ today .
A good support on daily chart stands at 1258$ . If traders take this base out and manage to sustain trade below our support today . Then expect some pressure in this major commodity upto 1250$ – 1242$ today .
Gold analysis conclusion : Comex xauusd trend is positive for now .
Silver analysis
Comex Silver ( xagusd ) price trading at 16.78$ . Its in a small range since yesterday and trading flat . A good base level on daily chart stands at 16.54$ . If traders take this base out and manage to sustain trade below our support today . Then expect some pressure in this major commodity upto 16.30$ – 16.05$ today .
A good hurdle on daily chart stands at 17.05$ . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in this precious metal upto 17.26$ – 17.54$ today .
Silver analysis conclusion : Comex xagusd trend is positive for now .
Stay cautious we have major manufacturing data today .
More will update to our trading signals subscribers .