Gold analysis
Comex gold ( xauusd ) price trading at 1279$ , yesterday it tested low of 1271$ and then fired back to test 1282$ . A good support on daily chart stands at 1270$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this major commodity upto 1262$ – 1255$ today .
A good resistance on daily chart stands at 1286$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in this precious metal upto 1292$ – 1299$ .
Gold technical analysis conclusion : Comex xauusd trend is flat to positive for now .
Silver analysis
Comex silver ( xagusd ) price trading at 16.94$ , a good base level on daily chart stands at 16.75$ . If traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this major commodity upto 16.55$ – 16.30$ today .
A good hurdle on daily chart stands at 17.20$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in this precious metal upto 17.45$ – 17.70$ .
Silver analysis conclusion : Comex xagusd trend is flat to positive for now .
We have ECB decision on rate cut today , better stay lite and trade cautiously .
Read dow jones and crude oil levels here
Today’s data can be seen here
More will update to our trading signals subscribers .
[…] Yesterday’s technical levels can be seen here […]