Gold analysis
Comex Gold ( xauusd ) price trading at 1276$ , yesterday it crashed from 1288$ and our subscribers minted good profits in sell . A good support on daily chart stands at 1268$ . If traders take this base out and manage to sustain trade below our support today . Then expect more pressure in this precious metal upto 1260$ – 1252$ today .
A good resistance on daily chart stands at 1282$ . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in this major commodity upto 1290$ – 1299$ today .
Gold analysis conclusion : Comex xauusd trend is flat to weak for now .
Silver analysis
Comex Silver ( xagusd ) price trading at 16.90$ , yesterday it crashed out from 17.15$ and our subscribers made more than 100 pips in sell trade . A good base level on today’s chart stands at 16.65$ . 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 16.42$ – 16.20$ .
A good hurdle on daily chart stands at 17.10$ . If traders take this hurdle out and manage to sustain trade above our resistance today , then expect more firepower in silver prices upto 17.30$ – 17.50$ .
Silver analysis conclusion : Comex xagusd trend is weak for now .
We have retail sales data from US today . Stay cautious .
More will update to our trading signals subscribers .