Gold forecast
Comex Gold ( xauusd ) price trading at 1257$ . It tried to test 1248$ last night but it did not touch our base level and bounced back from there . A good support on daily chart stands at 1248$ . If traders take this base out and manage to sustain trade below our support today . Then expect more pressure in this major commodity prices upto 1240$ – 1232$ today .
A good resistance on daily chart stands at 1265$ . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more highs in xauusd prices upto 1272$ – 1280$ today .
Gold forecast conclusion : We have CB consumer figure today from US , stay cautious . Xauusd trend is positive for now .
Silver forecast
Comex Silver ( xagusd ) price trading at 16.50$ . It has a good resistance on daily chart at 16.70$ . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in xagusd prices upto 16.90$ – 17.05$ today .
A good base level on daily chart stands at 16.30$ . If traders take this base out and manage to sustain trade below our support today . Then expect more pressure in this precious metal upto 16.05 – 15.80$ today .
Silver forecast conclusion : Comex xagusd trend is positive for now .
Read our yesterday’s forecast here
More will update to our trading signals subscribers .