Gold forecast
Comex Gold ( xauusd ) price fired last night after US open . Currently its trading pretty higher at 1256$ . A good support on technical chart stands at 1247$ . If traders breaks this major base and manage to continue trade beneath our support today . Then expect bears to take control from bulls upto 1240$ – 1232$ today .
A good resistance on gold technical chart stands at 1264$ . If traders breaks this major hurdle and continue trade above our resistance today . Then expect more power to buyers upto 1272$ – 1280$ today .
Gold forecast conclusion : Comex gold trend is flat to positive for now .
Silver forecast
Comex Silver ( xagusd ) price trading pretty higher at 18.33$ . Its not backing down at all and continuously chasing new highs . A good hurdle on technical chart stands at 18.55$ . If traders unseat this hurdle and manage to sustain trade above our resistance today . Then expect more power to silver buyers upto 18.70$ – 18.99$ today .
A good base level on daily chart stands at 18.05$ today . If traders breaks this major base and manage to continue trade beneath this level . Then expect some consolidation phase in silver prices upto 17.80$ – 17.60$ today .
Silver forecast conclusion : Comex xagusd trend is positive for now .
We have trade balance from US and ECB president speech today . Stay cautious .
More will update to our trading signals subscribers .