Gold forecast
Gold ( xauusd ) price opened gapdown on green signal from world equity markets . All markers are up except china . Dollar index trading above 96 and crude oil is just near 30$ . So all factors are supporting this gap down . We already gave you hint in our weekly gold forecast that stay cautious on higher levels . Currently prices are trading at 1219$ . A good support on intraday gold chart at 1207$ . If traders manage to break this support and sustain trade below this level today . Then expect more pain for buyers upto 1200$ – 1190$ in today’s trading session .
A good resistance on intraday gold chart at 1231$ . If traders pull this resistance up and manage to sustain above our hurdle . Then expect market to support buyers once again upto 1240$ – 1249$ today .
Gold forecast conclusion : Intraday trend is down so avoid any buy but no fresh shorts on these levels as well .
Silver forecast
Silver ( xagusd ) price trading at 15.38$ . It also consolidated today from 15.70$ odd zone till 15.35$ . A good support on intraday silver chart at 15.20$ . If traders manage to break this support today and sustain trade below our level today . Then expect market to test upto 15$ – 14.80$ in today’s trading session .
A good resistance on intraday silver chart at 15.66$ . If traders manage to break this hurdle and sustain trade above our level today . Then expect xagusd to support buyers upto 15.90$ – 16.20$ today .
Silver forecast conclusion : Trend is down for now .
More will update to our trading signal subscribers .