Gold Silver signals
Gold Silver signals both achieved target today. A good day for our bullion signals subscribers. We asked them to sell both precious metals last night. After Fed chairman delivered its testimony signaling better day ahead for US economy. We initiated a sell signals in precious metals and we stayed in sell overnight. Here are our both trades we took to extract profits.
Sell Xauusd at 1229.30 with stop loss of 1237 for target of 1222$. Gold achieved our target and we extracted nearly 70 pips in this trade. We made approx $700 profit per lot.
Currently prices are trading at 1222.50$. We have a good support in this major commodity at 1218$. If traders take price below this and sustain price beneath this level. Then expect more pressure upto 1209$- 1200$ today. Read full gold analysis here
Our sell silver initiated at 15.59$ with stop loss of 15.80$ for target of 15.35$. Xagusd crashed and we exited at 15.40$. We made nearly 95 pips in this trade. We juiced approx $900 profit per lot.
Currently prices are trading 15.44$, It broke our support which we updated in our today’s analysis. Now major base stands at 15.30$, If traders break and sustain below this level. Then expect more pressure upto 15.05$- 14.70$.
A good resistance now stands at 15.66$, If traders break and sustain above our resistance. Then expect good recovery upto 15.84$- 16.05$.
Silver trend is still in weak zone.
We have Fed chairman Powell testimony once again. He will again influence market. Dollar already made high at 95.04. If he manages to push dollar above 95, Then expect dollar to fire upto 95.40- 95.80 and even more upside in greenback not ruled out.
We are already phasing high pressure from metals bears since June. If dollar break resistance then expect another round of fresh selling in market. Today’s testimony would be important. So try to square off all positions before that.
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