Gold forecast
Gold ( xauusd ) price opened lower today and still trading in lower band at 1157$ . A good support on daily chart stands at 1148$ . If traders break this major base level and manage to sustain trade beneath our support today . Then expect gold price to test upto 1140$ – 1131$ today .
A good resistance on daily chart stands at 1170$ . If traders break this major hurdle and manage to sustain trade above our resistance today . Then expect gold price to test upto 1178$ – 1185$ today .
Gold forecast conclusion : Xauusd trend is weak for now .
Silver forecast
Silver ( xagusd ) price trading at 16.85$ . It also opened lower today and tested below 16.80$ . A good base level on daily chart stands at 16.65$ . If traders break this base level and manage to sustain trade beneath our support today . Then expect silver prices to test upto 16.42$ – 16.20$ today .
A good hurdle on daily chart stands at 17.05$ . If trader break this hurdle and manage to sustain trade above our resistance today . Then expect silver prices to test upto 17.26$ – 17.51$ today .
Silver forecast conclusion : Xagusd trend is weak for now .
Keep an eye on Dow jones . More lifetime high could mean more weakness in precious metals .
More will update to our trading signal subscribers .