Gold analysis
Comex Gold ( xauusd ) price trading at 1285$ . Yesterday it tested 1294$ and then started coming back , our signal target was 1295$ . 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 more pressure in this major commodity upto 1270$ – 1262$ today .
A good resistance on daily chart stands at 1295$ . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower from buyers upto 1302$ – 1309$ .
Gold analysis conclusion : Comex xauusd trend is flat to weak for now .
Silver analysis
Comex Silver ( xagusd ) price trading at 16.95$ . Its trading slightly lower since yesterday and tested 16.90$ in early morning trade . A good base on daily chart stands at 16.80$ . If traders take this base out and manage to sustain trade below our support today . Then expect more pressure in xagusd upto 16.60$ – 16.38$ today .
A good hurdle on daily chart stands at 17.20$ . If traders manage to break this hurdle and sustain trade above our resistance today . Then expect good firepower in this major commodity upto 17.42$ – 17.68$ .
Silver analysis conclusion : Comex xagusd trend is flat to weak for now .
More will update to our trading signals subscribers .