Gold forecast
Gold ( xauusd ) price trading at 1216$ . Last friday it tested 1208$ and then bounced back till 1222$ . Today it opened weak and its slipping from higher levels . A good support on gold chart stands at 1206$ . If traders break this major level and manage to sustain trade beneath this level then expect xauusd to test upto 1200$ – 1191$ today .
A good resistance on gold chart stands at 1226$ . Once market break this hurdle and manage to sustain trade above our resistance today . Then expect xauusd to zoom upto 1233$ – 1241$ today .
Gold forecast conclusion : Trend is weak . Avoid any buy for now .
Silver forecast
Silver ( xagusd ) price broke 15$ and it tested 14.78$ last friday . But finally it settled above 15$ . Currently prices are trading at 14.94$ . A good support on silver chart stands at 14.70$ . Once traders break this major level and manage to sustain trade beneath this support today . Then expect xagusd to correct upto 14.50$ – 14.20$ today .
A good resistance on silver chart stands at 15.25$ . If traders manage to break this hurdle and sustain trade above our resistance today . Then expect xagusd to zoom upto 15.50% – 15.70$ today .
Silver forecast conclusion : Trend is weak for now .
More will update to our trading signal subscribers .