Gold trend
Gold ( xauusd ) price trading higher than yesterday . Its trading at 1333$ . Last night after Fed statement it fired and tested 1337$ after the statement . A good resistance on daily gold chart stands at 1342$ . If traders break this major hurdle and manage to sustain trade above our resistance today . Then expect this precious metal to test upto 1351$ – 1358$ today .
A good support on daily gold chart stands at 1324$ . If traders break this major base level and manage to sustain trade beneath our support today . Then expect this precious metal to test upto 1317$ – 1308$ today .
Gold trend conclusion : Xauusd trend is positive for now .
Silver trend
Silver ( xagusd ) price were already trading in positive zone even before fed statement . But after FOMC statement it rocketed and tested 19.88$ in chaos of statement . Currently prices are trading at 19.74$ . A good support on intraday silver chart stands at 19.50$ . If traders break this major base level and manage to sustain trade beneath our base today . Then expect bears to take charge upto 19.30$ – 19.05$ today .
A good hurdle on intraday silver chart stands at 19.91$ . If traders break this major hurdle and manage to sustain trade above our resistance today . Then expect this major commodity to test upto 20.12$ – 20.32$ today .
Silver trend conclusion : Xagusd trend is positive for now .
More will update to our trading signal subscribers .