Gold price forecast
Gold price currently trading at lower level at 1064$ . It tested 1059$ zone and then gave a mild recovery of 5$ . A good support on chart at 1055$ . If market break this intraday support level and manage to sustain below our base support then expect xauusd market to correct upto 1047$ – 1038$ today .
If gold price break our intraday chart resistance at 1077$ and sustain above our resistance hurdle then expect xauusd market to support buyers upto 1088$ – 1098$ today .
Gold price forecast conclusion : Trend is flat to weak so avoid any big buy trade till resistance does not breach .
Silver trading outlook
Silver price corrected pretty hard yesterday and tested water below 13.70$ . Currently xagusd prices seems stabilize at 13.76$ . A good resistance on chart at 14.05$ . If market break this intraday resistance and sustain above our intraday hurdle then expect market to zoom upto 14.31$ – 14.55$ today .
If silver price break our chart support at 13.50$ and sustain below our intraday support level then expect xagusd to correct upto 13.25$ – 13.01$ today .
Silver trading outlook conclusion : Trend is flat to weak for now . Avoid any big buy trade today .
More will update to our trading signal subscribers .
Today we have US Core CPI and NY Empire state manufacturing data . Stay cautious .
Tomorrow is Big day so trade minimum qty .