Gold trend
Gold ( xauusd ) price crashed further after US data came last night . Currently prices are trading at 1208$ . A good support on daily chart stands at 1198$ today . Once traders break this major base level and manage to sustain trade beneath our support today . Then expect gold prices to test upto 1192$ – 1184$ today .
A good resistance on daily chart stands at 1219$ . Once traders break this major hurdle and manage to sustain trade above our resistance . Then expect gold prices to test upto 1227$ – 1235$ today .
Gold forecast conclusion : Xauusd trend is weak for now .
Silver forecast
Silver ( xagusd ) price trading at 16.65$ . A good base level on daily chart stands at 16.42$ . Once traders take this support out and manage to sustain trade beneath our support today . Then expect silver prices to test upto 16.21$ – 16.01$ today .
A good hurdle on daily chart stands at 16.86$ . Once traders break this major hurdle and manage to sustain trade above our resistance today . Then expect silver prices to test upto 17.08$ – 17.28$ today .
Silver forecast conclusion : Xagusd trend is weak for now .
We have ECB chairman Mario Draghi speech today . So stay cautious .
More will update to our trading signal subscribers .