Gold price forecast
Gold price ( xauusd ) trading lower today at 1067$ . Yesterday prices tested higher band at 1078$ . But it crashed when Fed announce its hiking interest rate by 0.25% . It was already discounted in prices but it flicked from 1077$ till 1061$ . Finally settled in 1067-1070$ range . Today gold chart has an intraday resistance at 1081$ for today’s trading session . If market manage to break this resistance level and sustain above our hurdle then expect buyers to have upper hand upto 1090$ – 1100$ today .
Gold chart has an intraday support at 1055$ for today’s trading session . If prices manage to break this support level and sustain below this support then expect more power to bears upto 1047$ – 1040$ today .
Gold price forecast conclusion : Xauusd Trend is flat for now . Avoid any major trade till our support or resistance breaches .
Silver technical analysis
Silver price ( Xagusd ) trading at 14.04$ . Its in better shape than gold as its holding above 14$ . A good support on chart at 13.90$ for today’s trading session . If market break this and manage to sustain below our intraday support then expect more power to bears upto 13.70$ – 13.50$ today .
Silver price ( xagusd ) has a good resistance for today’s trading session at 14.31$ . If market breach this and sustain above our today’s intraday resistance then expect silver to support buyers upto 14.55$ – 14.90$ today .
Silver technical analysis conclusion : Trend is flat to positive for now .
More will update to our trading signal subscribers