Gold analysis
Comex Gold ( xauusd ) price trading at 1326$ , yesterday it crashed from 1339$ till 1326$ . A good support on daily chart stands at 1317$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this major commodity upto 1308$ – 1300$ today .
A good resistance on daily chart stands at 1335$ , if traders take this hurdle out and manage to sustain trade above our resistance today , then expect more firepower in gold upto 1342$ – 1350$ .
Gold analysis conclusion : Trend is weak for now , avoid any major buy trade .
Silver analysis
Comex Silver ( xagusd ) price trading at 17.77$ , its price also facing pressure since yesterday but its not crashing like gold . A good base level on daily chart stands at 17.50$ , if traders take this base out and manage to sustain trade below our support today . Then fresh selling may resume and price may test upto 17.25$ – 17.05$ .
A good hurdle on daily chart stands at 18$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower upto 18.20$ – 18.40$ .
Silver analysis conclusion : Trend is flat to weak for now .
More will update to our trading signals subscribers .