Gold forecast
Comex Gold ( xauusd ) price trading at 1261.50$ . Yesterday xauusd crashed after fed hiked interest rate by 0.25% . It was expected that fed will hike interest rate but you never know when they decide to play with the markets . Today we have BOE announcement on interest rate . A good support on daily technical chart stands at 1255$ . 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 some recovery in xauusd prices upto 1280$ – 1288$ today .
Gold forecast conclusion : Comex xauusd trend is flat to weak for now .
Silver forecast
Comex Silver ( xagusd ) price trading at 16.95$ . It also crashed from 17.25$ and tested nearly 16.85$ last night . A good base level on daily technical chart stands at 16.70$ . If traders breaks this major base and manage to sustain trade below our support today . Then expect more pressure in xagusd prices upto 16.50$ – 16.30$ today .
A good hurdle on daily technical chart stands at 17.15$ . If traders breaks this major hurdle and manage to sustain trade above our resistance today . Then expect some recovery in xagusd prices upto 17.40$ – 17.55$ today .
Silver forecast conclusion : Comex xagusd trend is flat for now .
Read our yesterday’s levels and forecast here
More will update to our trading signals subscribers .
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