Silver forecast
Silver ( xagusd ) price trading at 17.55$ . It crashed yesterday and tested near 17.40$ . We enjoyed profits as our sell initiated at 17.66$ and we booked at 17.45$ . A good major support stands at 17.30$ . If traders break this major base level and manage to sustain trade beneath our support today . Then expect silver prices to correct upto 17.05$ – 16.80$ today .
A good resistance on silver chart stands at 17.81$ . If traders break this major hurdle and manage to sustain trade above our resistance today . Then expect this precious metal to test upto 18.02$ – 18.24$ today .
Silver forecast conclusion : Xagusd trend is weak for now .
Gold forecast
Gold ( xauusd ) price trading at 1255$ . Yesterday it tested 1250$ zone and now bounced back a bit . We enjoyed full crash as our sell signal initiated at 1258.50$ and we booked at 1252.50$ . A good base level on chart stands at 1247$ . If traders break this major base level and manage to sustain trade beneath our support today . Then expect gold prices to correct upto 1240$ – 1231$ today .
A good hurdle on daily gold chart stands at 1263$ . If traders break this major hurdle and manage to sustain trade above our resistance today . Then expect this precious metal to test upto 1272$ – 1281$ today .
Gold forecast conclusion : Xauusd trend is weak for now .
Today we have FOMC meeting minutes . So stay cautious .
More will update to our trading signal subscribers .