Gold forecast
Gold ( xauusd ) price took support yesterday at 1240$ . It could not break this major level and bounced back . Currently prices are trading at 1247$ . It tested 1248$ today and currently its trading near high only . A good resistance on gold chart stands at 1254$ . If traders break this hurdle and manage to sustain trade above our resistance today . Then expect xauusd to zoom upto 1261$ – 1267$ today .
A good support on gold chart today at 1237$ . If traders manage to break this support and sustain trade below this level . Then expect xauusd to correct upto 1228$ – 1217$ today .
Gold forecast conclusion : Trend is flat to positive for now . Watch out resistance for fresh buying .
Silver forecast
Silver ( xagusd ) price trading at 15.90$ . Since yesterday its outperforming gold once again and making better highs . A good resistance on silver chart today at 16.01$ . If traders break this hurdle and manage to sustain trade above our hurdle . Then expect xagusd to zoom upto 16.25$ – 16.50$ today .
A good support on silver chart today at 15.65$ . If traders break this support and manage to sustain trade beneath this level . Then expect xagusd to face consolidation upto 15.40$ – 15.20$ today .
Silver forecast conclusion : Trend is flat to positive for now . Fresh buying not recommended for now as our resistance is intact . Wait for resistance to breach for fresh buying .
More will update to our trading signal subscribers .