Gold forecast
Yesterday gold finally tested 1108$ and made high of 1113$ . It did not sustain above 1108$ hence a breakout is ruled out . Currently prices trading at 1103$ . A good resistance stands on chart at yesterday’s high . Once xauusd break 1113$ and manage to sustain above our resistance . Then expect gold to fire upto 1121$ – 1128$ today .
A good support in gold prices at 1095$ . Once bears take this support out and manage to sustain beneath this level . Then expect xauusd to crack upto 1086$ – 1077$ today .
Gold forecast conclusion : Trend is no doubt in favor of bulls but its time to take caution note on fresh buying positions .
Silver outlook
Silver price ( xagusd ) tested 14.35$ yesterday and retraced back . Currently trading at 14.20$ . A good resistance on chart at 14.41$ . Once market break this resistance and manage to hold above this hurdle . Then expect market to fire upto 14.70$ – 14.93$ today .
A good support in silver price at 13.90$ . If bears manage to break this level and manage to sustain beneath this level . Then expect market to correct upto 13.70$ – 13.40$ today .
Silver outlook conclusion : Trend is flat to positive for now
More will update to our trading signal subscribers .