Gold forecast
Comex Gold ( xauusd ) price trading at 1235$ . Yesterday it tried to break 1230$ but it could not sustain and its comfortably trading at 1235$ with good volumes . A good resistance on daily technical chart stands at 1224$ . If traders breaks this major base and manage to sustain trade below our support today . Then expect some pressure in xauusd prices upto 1217$ – 1208$ today .
A good resistance on daily technical chart stands at 1242$ . If traders breaks this major hurdle and manage to sustain trade above our resistance today . Then expect xauusd prices to test upto 1249$ – 1256$ today .
Gold forecast conclusion : We have housing delinquencies from US today . Keep an eye on that data as it gives a good idea about upcoming housing numbers . Xauusd trend is positive for now .
Silver forecast
Comex Silver ( xag/usd ) price trading at 16.72$ . Its trading flat since last night and did not really moved up . A good hurdle on daily chart stands at 17.05$ . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more fire power to xagusd buyers upto 17.30$ – 17.54$ today .
A good base level on daily silver chart stands at 16.50$ . If traders breaks this major base and manage to sustain trade below our support today . Then expect some pressure in xagusd prices upto 16.30$ – 16.05$ today .
Silver forecast conclusion : Yesterday xagusd had a good run and now it seems tired but xagusd chart suggests more upside in this major commodity . Avoid selling without proper stoploss .
Read our yesterday’s forecast here
More will update to our trading signals subscribers .
[…] Read our yesterday’s forecast here […]