Gold forecast
Gold ( xauusd ) price extended its crash further yesterday as it tested 1262$ last night . Currently prices are trading at 1265$ . A good support on intraday chart stands at 1258$ . If traders break this major base level and manage to sustain trade beneath our support today . Then expect gold prices to correct upto 1250$ – 1241$ today .
A good resistance on daily gold chart stands at 1277$ . If traders break this major hurdlel and manage to sustain trade above our resistance today . Then expect this precious metal to test upto 1282$ – 1291$ today .
Gold forecast conclusion : Xauusd trend is weak for now .
Silver forecast
Silver ( xagusd ) price trading at 17.78$ . Yesterday it tested near 17.55$ but bounced back immediately . Today it has a good base level at 17.48$ . If traders break this major base level and manage to sustain trade beneath our support today . Then expect more pain for silver buyers upto 17.25$ – 17$ today .
A good hurdle on silver chart stands at 18.05$ . If traders break this major hurdle and manage to sustain trade above our resistance today . Then expect this major commodity to test upto 18.32$ – 18.55$ today .
Silver forecast conclusion : Xagusd trend is weak for now .
More will update to our trading signal subscribers .