Gold forecast
Gold price ( xauusd ) trading higher today at 1069$ today . Friday it reverted with good firepower from 1048$ range . A good resistance on gold chart at 1076$ . If market beat this level and manage to sustain above our intraday resistance . Then expect prices to favor buyers upto 1084$ – 1092$ . Main firepower would start only above 1100$ .
Gold price has a good support at 1058$ . If prices manage to break this base level and sustain below this support . Then expect market to favor sellers once again upto 1050$ – 1046$ today . Another fresh round of selling may start if it dips below 1045$ .
Gold forecast conclusion : Intraday xauusd trend is positive for now . But still its highly cautious metal for now .
Silver outlook
Silver price ( xagusd ) trading at 14.12$ . A good support on chart at 13.90$ . If prices beat this level and manage to sustain beneath our base support . Then expect market to support sellers upto 13.70$ . Main panic starts if it break 13.48$ and sustain beneath this level .
Silver chart has a good resistance at 14.38$ . If price break this hurdle and manage to sustain above our technical resistance then expect market to give breather to buyers upto 14.60$ . Main buying starts once it cross 14.70$ .
Silver outlook conclusion : Trend is positive for intraday .
More will update to our trading signal subscribers