Gold analysis
Comex gold ( xauusd ) price trading at 1297$ , yesterday after better than expected US unemployment claims . It tested below 1290$ and then bounced back after making lows near 1285-86$ zone . A good support on daily chart stands at 1284$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this major commodity upto 1276$ – 1270$ today .
A good resistance on daily chart stands at 1307$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower upto 1316$ – 1326$ .
Gold analysis conclusion : Comex xauusd trend is flat to positive for now .
Silver analysis
Comex silver ( xagusd ) price trading at 17.02$ , yesterday it tested 16.82$ and fired back . A good base level on daily chart stands at 16.80$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this precious metal upto 16.60$ – 16.40$ .
A good hurdle on daily chart stands at 17.25$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in this major commodity upto 17.47$ – 17.70$ today .
Silver analysis conclusion : Comex xagusd trend is flat to positive for now .
More will update to our trading signals subscribers .