Gold forecast
Gold ( xauusd ) price trading at 1236$ today . It made high at 1241$ but then it could not sustain . If you remember we updated our resistance in yesterday’s post at 1242$ . Today it remain same . Gold chart shows a resistance at 1242$ . If traders break this hurdle and manage to sustain trade above our hurdle today . Then expect xauusd to zoom upto 1251$ – 1260$ today .
A good support on gold chart stands at 1227$ . If traders break this major support level and manage to sustain beneath our support today . Then expect xauusd to correct upto 1219$ – 1209$ today .
Gold forecast conclusion : Trend is flat for now . Market is stuck in range and maybe we would see some major range tomorrow near fed announcement .
Silver forecast
Silver ( xagusd ) price sustaining below 17$ and not participating in any rise is indicating small weakness and some selling round in this commodity . However tomorrow we have fomc event so we would not take any selling call yet . A good resistance on silver chart stands at 17.25$ . If traders break this hurdle and manage to sustain trade above our hurdle today . Then expect xagusd to zoom upto 17.51$ – 17.76$ today .
A good support on silver chart stands at 16.70$ . If traders manage to break our support today and sustain trade beneath our support today . Then expect xagusd to correct upto 16.45$ – 16.20$ today .
Silver forecast conclusion : Trend is flat for now .
More will update to our trading signal subscribers