Gold forecast
Comex Gold ( xauusd ) prices finally broke 1255$ yesterday and tested 1251$ , currently prices are flirting with 1255$ . A good support on daily technical chart stands at 1247$ . If traders breaks this major base and manage to sustain trade below our support today . Then expect more pressure in xauusd prices upto 1240$ – 1232$ today .
A good resistance on daily technical chart stands at 1262$ . If traders breaks this major hurdle and manage to sustain trade above our resistance today . Then expect some recovery in xauusd prices upto 1270$ – 1278$ today .
Gold forecast conclusion : Comex xauusd trend is flat to weak for now .
Silver forecast
Comex Silver ( xagusd ) price trading at 16.78$ . Last night it broke 16.70$ but did not sustain below 16.70$ and quickly recovered from there . A good base level on daily technical chart stands at 16.55$ . If traders breaks this major base and manage to sustain trade below our support today . Then expect more pressure in xagusd prices upto 16.30$ – 16.05$ today .
A good hurdle on daily technical chart stands at 17.05$ . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect some firepower in xagusd prices upto 17.28$ – 17.54$ today .
Silver forecast conclusion : Comex xagusd trend is flat for now .
Read daily forecast and levels here
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