Gold forecast
Gold ( xauusd ) price trading at 1206$ . Yesterday it tried to fire but it could not and retraced back from 1217$ . Yesterday it made low of 1191$ . Our support we mentioned in 1190$ zone . Today again a good support on intraday gold chart stands at 1190$ . If traders manage to break this support and sustain trading below our support . Then expect market to correct upto 1181$ – 1173$ today .
A good resistance on intraday gold chart at 1218$ . If traders break this hurdle and manage to trade above our resistance . Then expect market to test upto 1227$ – 1238$ today .
Today we have building permits data and Fomc meeting minutes . So do not trade bulk qty .
Gold forecast conclusion : Trend is flat to positive for now .
Silver forecast
Silver ( xagusd ) price trading at 15.30$ . A good support on intraday silver chart stands at 15.08$ . If traders manage to break this support today and manage to sustain trade beneath this level . Then expect market to support sellers upto 14.90$ – 14.70$ today .
A good resistance on intraday silver chart at 15.56$ . If traders break this resistance and manage to trade above our resistance today . Then expect silver to zoom upto 15.80$ – 16$ today . Today we have Fomc meeting so do not trade bulk qty .
Silver forecast conclusion : Trend is flat to positive for now .
More will update to our trading signal subscribers .