Gold forecast
Comex Gold ( xauusd ) price crashed last night as it broke 1260$ and tested near 1252$ level . Currently prices are trading at 1256$ . A good support on daily technical chart stands at 1247$ . If traders breaks this major base and manage to sustain trade below our support level . Then expect another fresh round of selling in gold prices upto 1240$ – 1233$ today .
A good resistance on daily chart stands at 1266$ . If traders cross this hurdle and maintain to trade above 1266$ today . Then expect some breather to gold buyers upto 1273$ – 1280$ today .
Gold forecast conclusion : Comex xauusd trend is weak for now .
Silver forecast
Comex Silver ( xagusd ) price trading at 16.92$ . Last night it broke 17$ with ease and tested near 16.80$ . A good base on daily technical chart stands at 16.75$ . If traders breaks this major base and continue trading below 16.75$ . Then expect more pressure in silver prices upto 16.52$ – 16.30$ today .
A good hurdle on daily technical chart stands at 17.12$ . If traders breaks this major hurdle and manage to sustain trade above our resistance today . Then expect some breather to silver buyers upto 17.35$ – 17.55$ today .
Silver forecast conclusion : Comex xagusd trend is weak for now .
Read our yesterday’s forecast here
More will update to our trading signals subscribers .
[…] Read our yesterday’s forecast here […]