Gold analysis
As expected and mentioned in yesterday’s post , gold fired and tested almost 1290$ . A good support on daily chart stands at 1275$ . If traders take this base out and manage to sustain trade below our support today . Then expect more profit booking in this major commodity upto 1267$ – 1260$ today .
A good resistance on daily chart stands at 1291$ . If traders breaks this major hurdle and manage to sustain trade above our resistance today . Then expect more firepower in gold upto 1299$ – 1307$ today .
Gold analysis conclusion : Comex xauusd trend is still positive . Avoid major selling .
Silver analysis
Comex Silver ( xagusd ) price trading at 17.02$ . Yesterday it tested 17.25$ and then reverted back , xagusd trying to settle above 17$ for now . A good base level on daily chart stands at 16.80$ . If traders breaks this major base and manage to sustain trade below our support today . Then expect more pressure in this major commodity upto 16.60$ – 16.40$ 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 from this precious metal upto 17.48$ – 17.70$ .
Silver analysis conclusion : Comex xagusd trend is positive for now .
More will update to our trading signals subscribers .