Gold forecast
Comex Gold ( xauusd ) price trading at 1260$ . It crashed last night and broke 1260$ in early morning session . A good support on daily technical chart stands at 1254$ . If traders breaks this major base and manage to sustain trade below our support today . Then expect more pressure in xauusd prices upto 1247$ – 1240$ today .
A good resistance on daily technical chart stands at 1272$ . If traders breaks this major hurdle and manage to sustain trade above our resistance today . Then expect more firepower to xauusd prices upto 1280$ – 1288$ today .
Gold forecast conclusion : Comex xauusd trend is flat to weak for now .
Silver forecast
Comex Silver ( xagusd ) prices trading at 17.20$ . It tested below 17$ yesterday after our sell signal initiated around 17.29$ . We exited with profits and it bounced back . A good base level on daily technical chart stands at 16.95$ . If traders breaks this major base and manage to sustain trade below our support today . Then expect more pressure in xagusd prices upto 16.70$ – 16.50$ today .
A good hurdle on daily technical chart stands at 17.55$ . If traders breaks this major hurdle and manage to sustain trade above our resistance today . Then expect good rise in xagusd prices upto 17.80$ – 18$ today .
Silver forecast conclusion : Comex xagusd trend is flat to weak for now .
We have Avg hourly earnings , Unemployment rate and Non farm employment change data from US today . Stay cautious .
Read our yesterday’s forecast here
More will update to our trading signals subscribers .