Gold analysis
Comex gold ( xauusd ) price trading at 1270$ , its trading in a small range since morning and not giving any major movement . A good support on daily chart stands at 1262$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this major precious metal upto 1255$ – 1247$ today .
A good resistance on daily chart stands at 1278$ , if traders take this hurdle out and manage to sustain trade above our resistance today , then expect good recovery in this precious metal upto 1284$ – 1291$ .
Technical analysis gold conclusion : Despite good personal spending data comex gold trend is flat to positive for now .
Silver analysis
Comex silver ( xagusd ) price trading at 16.73$ , no movement since morning in this major commodity . A good base level on daily chart stands at 16.50$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure on this major commodity upto 16.30$ – 16.05$ .
A good hurdle on daily chart stands at 17.05$ , if traders take this hurdle out and manage to sustain trade above our resistance , then expect good recovery in this precious metal upto 17.30$ – 17.54$ today .
Technical analysis silver conclusion : Silver trend is flat to positive for now .
More will update to our trading signals subscribers .
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