Gold forecast
Comex Gold ( xauusd ) price trading at 1214$ . Yesterday it tested 1225$ and came back after that . A good support on daily chart stands at 1207$ . If trader breaks this major base level and manage to sustain trade beneath 1207$ support today . Then expect gold prices to test upto 1200$ – 1191$ today .
A good resistance on daily chart stands at 1226$ . If trader take this hurdle out and manage to sustain trade above 1226$ resistance today . Then expect gold price to test upto 1234$ – 1241$ today .
Gold forecast conclusion : Comex xauusd trend is flat for now .
Silver forecast
Comex Silver ( xagusd ) price trading at 17.35$ . It crashed from 17.70$ and trading lower since yesterday . A good base level on daily chart stands at 17.15$ . If trader breaks this major base and manage to sustain trade beneath 17.15$ support today . Then expect silver price to test upto 16.90$ – 16.70$ today .
A good hurdle on daily chart stands at 17.55$ . If trader breaks this major hurdle and manage to sustain trade above 17.55$ resistance today . Then expect silver price to test upto 17.80$ – 18$ today .
Silver forecast conclusion : Comex xagusd trend is flat to weak for now .
We have Non Farm payroll data today . I rate this data more than Fed meet for precious metals . We have Avg earning and manufacturing data too from US . So stay cautious .
More will update to our trading signals subscribers .