Gold forecast
Gold ( xauusd ) prices trading flat since yesterday . It made low of 1063$ and hovered between 1067$ – 1070$ yesterday . After FOMC minutes it gave a slight spike and tested 1080$ zone . Currently prices trading at 1077.50$ . A good resistance today on gold chart at 1084$ . If market break this and sustain above our intraday resistance then expect bulls to have good time upto 1091$ – 1100$ today .
Today support on gold chart stands at 1063$ . Once market break this intraday support today and sustain below our support then expect market to favor bears upto 1055$ – 1048$ and even more correction afterwards not ruled out .
Gold forecast conclusion : Gold trend is flat for now but minor short covering not ruled out intraday spike may occur so stay cautious .
Silver outlook
Silver ( xagusd ) prices trading at 14.25$ . Since yesterday it did not moved an inch . It made low of 14.04$ yesterday and fired back to orbit in same circle . A good resistance on silver chart at 14.51$ . Once market break this and sustain above our intraday resistance then expect some relief for buyers upto 14.80$ – 15$ today .
If silver price manage to click our support at 13.80$ and sustain below our intraday support then expect bears to have party once again upto 13.60$ – 13.30$ today .
Silver outlook conclusion : Silver trend is flat for now . But small short covering not ruled out .
More will update to our trading signals subscribers