Gold forecast
Gold ( xauusd ) price made low 1318$ yesterday and bounced back . We updated our support at 1317$ yesterday . It did’nt break and took a bounce . Today daily gold support remain same . If traders break this major support today and manage to sustain trade beneath our support . Then expect bears to have upper hand in this precious metal upto 1309$ – 1300.50$ today .
A good resistance on intraday gold chart stands at 1333$ . If traders break this major resistance and manage to sustain trade above our resistance today . Then expect this precious metal to test upto 1340$ – 1347$ today .
Gold forecast conclusion : Xauusd trend is flat to positive for today .
Silver forecast
Silver ( xagusd ) price trading at 18.64$ . We updated yesterday 18.45$ level yesterday as a good support . It made low of 18.48$ and bounced back . Today our silver base level remain same . If traders break this major base level and manage to sustain trade beneath our base . Then expect more power to bears upto 18.22$ – 18.01$ today .
A good major hurdle on silver chart stands at 18.90$ . If traders break this major hurdle and manage to sustain trade above our hurdle today . Then expect this major commodity to test upto 19.10$ – 19.32$ today .
Silver forecast conclusion : Xagusd trend is flat to positive for today .