Gold forecast
Comex Gold ( xauusd ) price trading at 1253$ . It opened flat and trading slightly lower from its closing of 1255$ . A good support on daily technical chart stands at 1245$ . If traders breaks this major base and manage to sustain trade below our support level . Then expect some pressure in this major commodity upto 1237$ – 1230$ today .
A good resistance on daily technical chart stands at 1262$ . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more recovery in xauusd price upto 1270$ – 1278$ today .
Gold forecast conclusion : Comex xauusd trend is positive for now .
Silver forecast
Comex Silver ( xagusd ) price trading at 16.45$ . It tested major hurdle of 16.55$ in early session but could not sustain on those levels and retraced back . A good hurdle on daily chart stands at 16.55$ . Once traders manage to pull this resistance and sustain trade above this level . Then expect more recovery in this major commodity upto 16.80$ – 17$ today .
A good base level on technical chart stands at 16.25$ . If traders take this base out and manage to sustain trade below our support today . Then expect some pressure in xagusd prices upto 16.05$ – 15.80$ today .
Silver forecast conclusion : Comex xagusd trend is positive for now .
Read our weekly forecast and levels here
More will update to our trading signals subscribers .
Very insightful, thanks!
[…] Read our yesterday’s forecast here […]