Gold trend
Gold ( xauusd ) price took more highs and fired last night as well after ECB chairman Mario Draghi’s speech . It tested 1341$ and now back at 1335$ . A good support on intraday gold chart stands at 1327$ . If traders break this major base level and manage to sustain trade beneath our support today . Then expect this precious metal to test upto 1318$ – 1309$ today .
A good resistance on intraday 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$ – 1359$ today .
Gold trend conclusion : Xauusd is looking tired after two days run . Trend is flat to weak for now .
Silver trend
Silver ( xagusd ) price trading at 19.80$ . Last night it tested 20.06$ and came back almost immediately after highs . A good base level on daily silver chart stands at 19.55$ . If traders break this major base level and manage to sustain trade beneath our support today . Then expect this major commodity to test upto 19.32$ – 19.10$ today .
A good hurdle on daily silver chart stands at 20.10$ . If traders break this major hurdle and manage to sustain trade above our resistance today . Then expect this major commodity to test upto 20.35$ – 20.60$ today .
Silver trend conclusion : Xagusd trend is flat to weak for now .
More will update to our trading signal subscribers .