Gold forecast
Gold ( xauusd ) price trading at 1320$ . It fired from 1280$ till 1325$ and currently prices are flirting with highs . Its almost certain that Donald Trump is going to be the next president of the United States . This came as a big shock since market discounted for a Hillary’s win last week when FBI gave her clean chit . Wallstreet has tanked 4% and still bleeding . Dollar has shrink and all other currencies against dollar are firing . This should give a good idea about what is going to happen atleast today till market digest the win of Donald Trump .
Technical levels should be just for formality today as market would react on final results and how Mr . Donald sounds after his win in his speech tonight . A good support on gold chart stands at 1307$ . If traders take this support out and manage to sustain trade beneath this level . Then expect gold prices to correct upto 1300$ – 1290$ today .
A good hurdle on daily chart stands at 1331$ . If traders break this major resistance and manage to sustain trade above our resistance today . Then expect gold prices to test upto 1339$ – 1347$ today .
Gold forecast conclusion : Gold trend is looking positive for now .
Silver forecast
Silver ( xagusd ) price trading at 18.75$ for now . It also took lead following cues from US election result’s projection . A good base level stands at 18.40$ . Once traders break this major level and manage to sustain trade beneath this support . Then expect silver prices to test upto 18.05$ – 17.70$ today .
A good hurdle on silver chart stands at 19.05$ . Once traders break this major hurdle and manage to sustain trade above our resistance today . Then expect silver prices to test upto 19.34$ – 19.68$ today .
Silver forecast conclusion : Silver trend is positive for now .
Market is very touchy today so do not trade big . Wait for final outcome of elections . Then decide and take positions .
More will update to our trading signal subscribers .