Gold analysis
Comex Gold ( xauusd ) prices trading in a small range since 2 days , yesterday it tested 1282$ and then came till 1291$ , currently prices are trading at 1288$ . A good support on daily chart stands at 1278$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure in xauusd price upto 1270$ – 1262$ today .
A good resistance on daily chart stands at 1295$ . If traders take this hurdle out and manage to sustain trade above our resistance , then expect more firepower upto 1302$ – 1308$ .
Gold analysis conclusion : No major trend for now , avoid any big position without stoploss and watch unemployment claims closely .
Silver analysis
Comex Silver ( xagusd ) price trading at 16.98$ , its not going anywhere since 2 days . A good base level on daily chart stands at 16.80$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure in this major commodity upto 16.60$ – 16.40$ .
A good hurdle on daily chart stands at 17.22$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in this precious metal upto 17.45$ – 17.68$ today .
Silver analysis conclusion : No major trend for now , trade cautiously with strict stoploss .
More will update to our trading signals subscribers .