Gold analysis
Comex Gold ( xauusd ) prices fired last night after making lows near 1267$ . Building permits data gave prices a good push and then good rally followed by a weaker yen in market . Today we have a good resistance on daily chart at 1294$ . If traders take this hurdle out and manage to sustain trade above our resistance today , then expect more firepower in xauusd prices upto 1300$ – 1308$ today .
A good support on daily chart stands at 1278$ . If traders take this base out and manage to sustain trade below our support today . Then expect some profit booking in this major commodity upto 1270$ – 1262$ .
Gold analysis conclusion : Comex xauusd trend is positive for now .
Silver analysis
Comex Silver ( xagusd ) price fired with full guns after weak US data . It literally fly from 16.65$ to 17.05 . Currently prices are trading at 17.15$ . A good base level on daily chart stands at 16.80$ . If traders take this base out and manage to sustain trade below our support today , then expect some profit booking upto 16.55$ – 16.30$ .
A good hurdle on daily chart stands at 17.40$ . If traders take this hurdle out and manage to sustain trade above our resistance today , then expect more firepower for buyers upto 17.66$ – 17.90$ today .
Silver analysis conclusion : Comex xagusd trend is positive for now .
More will update to our trading signals subscribers .