Gold forecast
Comex Gold ( xauusd ) price fired last night after Fed chairman Janet comment . Currently prices are flirting with 1225$ . A good support on daily technical chart stands at 1217$ . If traders breaks this major base and manage to sustain trade below our support today . Then expect more pressure in xauusd prices upto 1208$ – 1200$ today .
A good resistance on daily technical chart stands at 1233$ . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect some recovery in xauusd prices upto 1240$ – 1248$ today .
Gold forecast conclusion : Comex xauusd trend is positive for now .
Silver forecast
Comex Silver ( xagusd ) price trading at 15.96$ . It already tested 16$ and currently flirting with that major level . A good hurdle on daily chart stands at 16.20$ . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more recovery in xagusd prices upto 16.45$ – 16.70$ today .
A good base level on daily technical chart stands at 15.70$ . If traders breaks this major base and manage to sustain trade below our support today . Then expect some pressure in xagusd prices upto 15.50$ – 15.30$ today .
Silver forecast conclusion : Comex xagusd trend is positive for now .
We have CPI data and Fed chairman speech once again today . So stay cautious .
Read our yesterday’s market trend and levels here
More will update to our trading signals subscribers .
[…] Read our yesterday’s forecast and levels here […]