Gold forecast
Comex Gold ( xau/usd ) price trading at 1222$ . Early morning it made low at 1216.80 and bounced back from there . A good base level on daily technical chart stands at 1215$ . If traders breaks this major base and manage to sustain trade below our support today . Then expect more pressure in gold prices upto 1207$ – 1200$ today .
A good resistance on daily technical chart stands at 1232$ . Once this hurdle is taken care of and traders manage to sustain trade above our resistance today . Then expect some breather to gold buyers upto 1240$ – 1247$ today .
Gold forecast conclusion : Comex xau/usd trend is flat to weak for now .
Silver forecast
Comex Silver ( xag/usd ) price trading at 16.26$ . It tried to test near 16.10$ and update the lows but it survived the pressure and currently its trading at pretty solid level as its holding above 16.25$ . A good hurdle on daily technical chart stands at 16.45$ . If traders breaks this major hurdle and manage to sustain trade above our resistance today . Then expect more power to silver buyers upto 16.70$ – 16.92$ today .
A good base level on daily technical chart stands at 16$ . If traders take this base level out and manage to sustain trade below our support today . Then expect fresh selling by silver sellers upto 15.80$ – 15.60$ today .
Silver forecast conclusion : Comex xag/usd trend is flat to positive for now .
Read our yesterday’s levels and forecast here
More will update to our trading signals subscribers .
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