Gold forecast
Gold ( xauusd ) price trading at 1176$ . It took nose dive early morning and it tested 1162$ . Price recovered from there but it was a big blow as chinese data came better than expected . A good support on daily chart stands at 1166$ . If traders break this major base level and manage to sustain trade beneath our support today . Then expect gold price to test upto 1160$ – 1152$ today .
A good resistance on daily chart stands at 1184$ . If traders break this major hurdle and manage to sustain trade above our resistance today . Then expect gold prices to test upto 1191$ – 1199$ today .
Gold forecast conclusion : Xauusd trend is weak for now .
Silver forecast
Silver ( xagusd ) price trading at 16.52$ . A good base level on daily chart stands at 16.20$ . If traders break this major level and manage to sustain trade beneath our support today . Then expect silver price to test upto 16$ – 15.80$ today .
A good hurdle on daily chart stands at 16.80$ . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect silver prices to test upto 17.05$ – 17.30$ today .
Silver forecast conclusion : Xagusd trend is weak for now .
More will update to our trading signal subscribers .