Gold forecast
Gold ( xauusd ) price trading at 1325$ . It crashed yesterday and our almost two weeks old position closed in decent profit . Our gold sell signal initaited at 1342$ and we booked profits at 1325$ . Our target was lower but we booked early as we had other position in xagusd too . Intraday gold chart suggests a good base level at 1317$ . If traders break this base and manage to sustain trade beneath our base . Then expect this precious metal to test upto 1309$ – 1301$ today .
A good major hurdle on intraday gold chart stands at 1336$ . If traders break this major hurdle and manage to sustain trade above our hurdle today . Then expect this precious metal to test upto 1344$ – 1352$ today .
Gold forecast conlcusion : Xauusd trend is weak for now .
Silver forecast
Silver ( xagusd ) price trading at 18.60$ . Yesterday it crashed from 18.90$ till 18.50$ zone . We cashed this full move as our positional signal initiated at 19$ zone and we booked just near lowest point of the day . A good support on daily silver chart stands at 18.45$ . If traders break this major support and manage to sustain trade beneath our support today . Then expect fresh selling by bears once again upto 18.22$ – 18.01$ today .
A good resistance on daily silver chart stands at 18.76$ . If traders break this resistance and manage to sustain trade above our resistance today . Then expect some breather to silver buyers upto 18.99$ – 19.19$ today .
Silver forecast conclusion : Xagusd trend is weak for now .
More will update to our trading signal subscribers .