Gold forecast
Comex Gold ( xauusd ) price tested 1235$ and fired back after ECB did not change the interest rate yesterday . Currently prices are flirting with 1246$ . A good support on daily technical chart stands at 1235$ . If traders take this base out and manage to sustain trade below our support today . Then expect more pressure in xauusd prices upto 1228$ – 1220$ today .
A good resistance on daily technical chart stands at 1255$ . If traders breaks this major hurdle and manage to sustain trade above our resistance today . Then expect further recovery in xauusd prices upto 1262$ – 1270$ today .
Gold forecast conclusion : Comex xauusd trend is flat to positive for now .
Silver forecast
Comex Silver ( xagusd ) price trading at 16.35$ . Last night it tested 16.14$ and fired back . A good base level on daily chart stands at 16.10$ . If traders take this base out and manage to sustain trade below our support today . Then expect more pressure on prices upto 15.90$ – 15.70$ today .
A good hurdle on daily technical chart stands at 16.55$ . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect further recovery in xagusd prices upto 16.80$ – 17$ today .
Silver forecast conclusion : Comex xagusd trend is flat to positive for now .
Read our yesterday’s levels and forecast here
More will update to our trading signals subscribers .