Gold technical analysis 09th November 2017

Gold technical analysis

Comex gold ( xauusd ) price trading at 1283$, yesterday it fired and our subscribers enjoyed the profit as our buy signal initiated. A good support on daily chart stands at 1275$, if traders breaks this major base and manage to sustain trade below our support today. Then expect more pressure on this major commodity upto 1268$- 1260$ today .

A good resistance on daily chart stands at 1292$, if traders take this hurdle out and manage to sustain trade above our resistance today. Then expect more firepower in this precious metal upto 1299$- 1307$ .

Gold analysis conclusion: Comex gold trend is positive for now . Avoid any major sell. We would advice to buy in dips that too low qty as it already firing since yesterday.

Silver analysis

Comex silver ( xagusd ) price trading at 17.10$, yesterday it tested 17.27$ and our subscribers enjoyed as our exact target was 17.27$. Despite testing 17.27$ its not showing any major buy as it did not sustain above 17.25$. Again a good hurdle on daily chart stands at 17.25$, once traders break this major base and manage to sustain trade above our resistance today . Then expect more firepower in this major commodity upto 17.48$- 17.69$ today.

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 precious metal prices upto 16.70$ – 16.50$ .

Silver analysis conclusion : Comex silver trend is flat to positive for now. But do not buy any major position for now. Wait for market to give 15-20 cents dip and take a small position around 16.95$ with 5-10 cents below our support’s stoploss for 17.25$ and 17.40$. Once market manage to break 17.40$ and close above our hurdle then expect fire works in silver price upto 17.70$- 18$ and even more rise in prices not ruled out.

Read our yesterday’s market key levels here

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