Gold forecast
Gold ( xauusd ) has tested 1200.50$ yesterday and then just before US open , it started firing and after crude oil inventory it started taking off with big swings . Yesterday it tested from 1200.50$ to 1239.80$ . But after that xauusd looked exhausted and now its trading at 1226$ . A good support on gold chart today at 1217$ . If traders break this support and manage to sustain below our daily support today . Then expect market to support sellers upto 1209$ – 1200$ today .
A good resistance on gold chart at 1233$ . If traders break this resistance and manage to trade above our hurdle . Then expect market to zoom upto 1240$ – 1248$ .
Gold forecast conclusion : Trend is positive for now . But avoid any big position today .
Silver forecast
Silver ( xagusd ) tested 15.50$ yesterday . It did not followed gold once again and underperformed . A good resistance on silver daily chart at 15.50$ . If traders pull this resistance and manage to sustain above our resistance . Then expect xagusd to zoom upto 15.81$ – 16$ in today’s trading session .
A good support on daily silver chart at 15.20$ . If traders break this support and manage to sustain trading below our support . Then expect market to correct upto 15$ – 14.80$ today .
Silver forecast conclusion : Trend is positive for now .
More will update to our trading signal subscribers .