Gold technical analysis
Comex gold ( xauusd ) price trading at 1285$ , since yesterday this precious metal is making lows and counting new low levels in every 2-3 hours . A good support on daily technical chart stands at 1277$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this major commodity upto 1270$ – 1262$ today .
A good resistance stands at 1292$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect some recovery in this precious metal upto 1299$ – 1307$ .
Gold technical analysis conclusion : Gold trend is weak for now .
Silver technical analysis
Comex silver ( xagusd ) price trading at 17.02$ . Last night it tested 16.96$ and currently its tempting to break 17$ again . A good base level on daily chart stands at 16.90$ , if traders take this base out and manage to sustain trade below our support today , then expect more pressure on this major commodity upto 16.70$ – 16.50$ today .
A good hurdle on daily chart stands at 17.25$ , if traders take this hurdle out and manage to sustain trade above our resistance today , then expect more firepower in this precious metal upto 17.47$ – 17.70$ .
Silver technical analysis conclusion : Silver trend is weak for now .
We have building permits data from US today , stay cautious .
Read our yesterday’s levels here
More will update to our trading signals subscribers .
[…] Read gold silver technical analysis here […]
[…] Read our yesterday’s forecast here […]