Gold forecast
Gold price trading at 1071$ . Last night we took position in gold and initiated a buy signal . It fired with full power . Our trading signal initiated at 1061$ and our target met at 1069$ . Today chart shows a resistance at 1077$ . If market manage to break this and sustain above our intraday resistance then expect some more relief to buyers upto 1084$ – 1091$ today .
Gold chart suggests a technical support level at 1062$ . If market break this and sustain below this intraday support today then expect bears to take charge again upto 1054$ – 1047$ today .
Gold forecast conclusion : Intraday trend is in favor of bulls . But fresh buying on these levels not recommended .
Silver technical analysis
Silver were outperforming gold last week and even till yesterday . It was firm and it was’nt crashing . But yesterday it could not move with xauusd and stayed in same zone only . Even today its trading in same zone at 14.17$ . A good resistance on silver chart at 14.40$ . If market break this and sustain above our technical resistance level today then expect buyers to take a breather upto 14.65$ – 14.90$ today .
If silver price break our techncial support level at 13.90$ and sustain below our intraday support today then expect sellers to take charge again upto 13.70$ – 13.50$ today .
Silver technical analysis conclusion : No major trend . Just follow levels .
More will update to our trading signals subscribers .
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