Technical analysis Gold
Comex gold ( xauusd ) price trading at 1280$ , yesterday it tested 1274$ and then fired back after making lows near support of 1275$ , a good support again on chart stands at 1275-74$ . If traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this major precious metal upto 1267$ – 1260$ today .
A good resistance on daily chart stands at 1291$ , if traders break this hurdle and manage to sustain trade above our resistance today . Then expect good recovery in this major commodity upto 1299$ – 1307$ .
Gold technical analysis conclusion : Comex gold trend is flat to positive for now .
Technical analysis Silver
Comex silver ( xagusd ) price trading at 17.07$ , it fired last night after making lows below 16.90$ . A good base level on daily chart stands at 16.85$ , 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 17.27$ , if traders breaks this major barrier and manage to sustain trade above our resistance today . Then expect more firepower in this major precious metal upto 17.50$ – 17.72$ .
Silver technical analysis conclusion : Comex silver trend is flat to positive for now .
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