Gold
Gold price crashed from 1321$ to 1294$ last Friday. 8 Despite dovish Fed GDP numbers came better than expected and it has caused a confusion among market experts. We might see Fed changing their tone from Dovish to Hawkish once again in upcoming meet which is due this month.
Gold broke major support of 1317$ and crashed more than 20$ from there. We were in buy but we exited without profit loss as we took caution near US numbers.
Friday was a crucial selling which confirmed another selling candle on chart and we may see more selling in upcoming days if major support break which stands at 1288$. So lets take a look about support and resistance today.
Gold chart suggests a good support at 1288$. If market break and sustain beow 1288$. Then expect more pressure in gold price till 1280$- 1274$.
Resistance in gold chart stands at 1302$. If traders break and sustain above 1302$. Then expect good rise till 1309$- 1317$.
Conclusion: Comex Gold trend is flat to weak for now. Trade with extreme caution.
For Comex Silver, Crude oil and & Mcx levels watch video below.