Gold forecast
Gold ( xauusd ) price trading at 1255.50$ . Its trading in a small range since yesterday . A good support on daily chart stands at 1248$ . If traders break this major base level and manage to sustain trade beneath our support today . Then expect gold prices to correct upto 1240$ – 1232$ today .
A good resistance on gold chart stands at 1266$ . If traders break this major hurdle and manage to sustain trade above our resistance today . Then expect this precious metal prices to fire upto 1273$ – 1280$ today .
Gold forecast conclusion : Xauusd trend is flat to weak for now .
Silver forecast
Silver ( xagusd ) price trading at 17.44$ . Yesterday it crashed pretty sweetly and made low below 17.40$ . A good base level on chart stands at 17.20$ . If traders break this major level and manage to sustain trade beneath our support today . Then expect silver prices to test upto 17$ – 16.80$ today .
A good hurdle on silver chart stands at 17.70$ . If traders break this major hurdle and manage to sustain trade above our resistance today . Then expect this precious metal to test upto 17.92$ – 18.12$ today .
Silver forecast conclusion : Xagusd trend is flat to weak for now .
We have major data from US today , Consumer sentiment and core retail sales . So stay cautious .
More will update to our trading signal subscribers .