Gold forecast
Gold ( xauusd ) price trading pretty lower today . It cracked yesterday from 1256$ . We already got our share in this crash as we booked profits from 1249$ to 1241$ . Currently prices are trading at 1234$ . A good support on gold chart stands at 1227$ . If traders break this base support and manage to sustain trade beneath our support level today . Then expect sellers to have upper hand in this commodity upto 1220$ – 1209$ today .
A good resistance on gold chart stands at 1243$ . If traders break this hurdle and manage to sustain trade above our resistance today . Then expect xauusd to zoom upto 1251$ – 1259$ today .
Gold forecast conclusion : Trend is weak for now . Avoid any major buying for now .
Silver forecast
Silver ( xagusd ) price trading at 16.05$ . Almost at same level since yesterday . It did not shown any kind of weakness . A good support on silver chart stands at 15.78$ . If traders break this major level and manage to sustain trade beneath our support today . Then expect sellers to have upper hand in this precious metal upto 15.55$ – 15.30$ today .
A good resistance on silver chart stands at 16.30$ . If traders break this hurdle and manage to sustain trade above our resistance today . Then expect this commodity to test upto 16.53$ – 16.80$ today .
Silver forecast conclusion : Trend is flat to weak for now .
Today we have UK’s monetary policy and Unemployment claims numbers from US . So do not trade bulk .
More will update to our trading signal subscribers .