Gold forecast
Comex Gold ( xau/usd ) price trading at 1227$ . It tested 1228.50$ so far and going strong since last night . A good support on daily technical chart stands at 1220$ . If traders breaks this major base and manage to sustain trade below our support today . Then expect more pressure in xau/usd prices upto 1208$ – 1200$ today .
A good resistance on daily technical chart stands at 1238$ . If traders take this hurdle out today and manage to sustain trade above our resistance today . Then expect some fireworks in xau/usd prices today upto 1247$ – 1254$ today .
Gold forecast conclusion : Comex xauusd trend is positive for now .
Silver forecast
Comex Silver ( xag/usd ) price trading at 16.40$ . Its trading flat to positive since yesterday . A major hurdle on daily technical chart stands at 16.55$ . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect xagusd prices to take a fresh power start towards 16.80$ – 17$ today .
A good base level on daily technical chart stands at 16.20$ . If traders take this base out and manage to sustain trade below our support today . Then expect more pressure in xagusd prices upto 16$ – 15.80$ today .
Silver forecast conclusion : Comex xagusd trend is positive for now .
We have retail sales data from US today . Stay cautious .
Read our yesterday’s levels here
More will update to our trading signals subscribers today .