Gold Silver signals
A good day for our bullion signals subscribers. We asked them to sell precious metals once again today. As mentioned in our today’s analysis I wont be surprise if market made more lows. Both precious metals updated new lows and our subscribers enjoyed it. Lets see what trades we given to our subscribers today.
Sell Gold at 1224$ with stop loss of 1231$ for target of 1217$. Xauusd crashed pretty good and our subscribers exited at 1217$. We made nearly 70 pips profit in this trade. We juiced approx $700 profit per lot in this trade.
Currently gold price trading below our target of 1217$. Our support which we mentioned in our today’s report is broken. Now gold chart indicates a good support at 1208$, If traders break and sustain below our support. Then expect more pressure in this major commodity prices up to 1200$- 1192$.
Now resistance on technical xauusd chart stands 1226$, If traders break and sustain above our resistance. Then expect good short covering and a mild recovery upto 1232$- 1239$.
Trend is weak for now so avoid any major buy.
We gave a sell silver signal at 15.45$ with stop loss of 15.66$ for target of 15.23$. Xagusd crashed till 15.23. We exited at 15.25$ counting nearly 100 pips in this trade. We made approx $1000 profit per lot in this trade.
Silver was on double top pattern and we catch perfect sell. Watch chart how did we identified our sell position. Currently trading at 15.25$. A good support now stands at 15$, If traders break and sustain below this level. Then expect more pressure upto 14.80$- 14.60$ today.
A good resistance on chart now stands at 15.60$, If traders break and sustain above our resistance. Then expect mild recovery upto 15.80$- 16$ soon.
Silver trend is weak for now, Avoid major buying.
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