Gold forecast
Comex Gold ( xauusd ) price trading at 1258$ . It tested some lower levels till 1254$ yesterday but its not sustaining on lower levels at all . A good support on daily technical xauusd chart stands at 1248$ . If traders breaks this major base and manage to sustain trade below our support today . Then expect more pressure in gold prices upto 1240$ – 1232$ today .
A good hurdle on daily technical chart stands at 1266$ . If traders breaks this major hurdle and mange to sustain trade above our resistance today . Then expect more firepower in xauusd prices upto 1272$ – 1280$ today .
Gold forecast conclusion : Comex xauusd trend is positive for now .
Silver forecast
Comex Silver ( xagusd ) price trading at 17.20$ . Its trading in a small range since yesterday . A good base level on daily technical chart stands at 16.98$ . If traders breaks this major base and manage to sustain trade below our support today . Then expect more pressure in xagusd prices upto 16.75$ – 16.51$ today .
A good hurdle on daily technical chart stands at 17.45$ . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect some rise in xagusd prices upto 17.70$ – 17.92$ today .
Silver forecast conclusion : Comex xagusd trend is positive for now .
Read our yesterday’s forecast here
We have prelim GDP numbers from US today . Keep an eye as it could turn the trend .
More will update to our trading signals subscribers .