Gold analysis
Comex Gold ( xauusd ) prices cooled off last night after a tremendous run till 1326$ . A good support on daily chart stands at 1298$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure in xauusd prices upto 1291$ – 1284$ today .
A good resistance on daily chart stands at 1317$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in xauusd upto 1325$ – 1333$ .
Gold analysis conclusion : We have prelim GDP data today from US , stay cautious , trend is flat to weak for now .
More will update to our trading signals subscribers .
Silver analysis
Comex Silver ( xagusd ) price trading at 17.37$ . It tested 17.66$ last night and cooled off after making highs . A good base level on daily chart stands at 17.15$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure in this commodity prices upto 16.92$ – 16.70$ today .
A good hurdle on daily chart stands at 17.55$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in this commodity upto 17.77$ – 17.99$ today .
Silver analysis conclusion : Comex xagusd trend is flat to weak for now .