Gold forecast
Gold ( xauusd ) price trading today at 1254$ . Yesterday it crashed from 1280$ till 1260$ .Yesterday we hinted that its not crossing major zone of 1290$ and always cracking from higher level . It shows weakness . Major setback came in prices after fed minutes . Fed clearly said june interest rate is pretty much possible . After this statement dollar fired and bullions crashed . Gold chart has a good resistance at 1264$ today . If traders break this major hurdle and manage to sustain trade above our hurdle today . Then expect this commodity to fire upto 1270$ – 1278$ today .
We already cashed this gold move when we initiated our sell signal at 1275$ and booked profits at 1268$ yesterday . For today a good support on gold chart stands at 1244$ . If traders break this major level and manage to sustain beneath our support today . Then expect this precious metal to test upto 1237$ – 1230$ today .
Gold forecast conclusion : Xauusd trend is weak for now . Avoid any major buying .
Silver forecast
Silver ( xagusd ) price crashed from 17.20$ zone till 16.70$ yesterday . We cashsed this movement when we initiated our sell signal at 17.15$ and booked profits at 16.92$ . Currently prices are trading at 16.68$ . A good support on silver chart stands at 16.45$ . If traders break this major support level and manage to sustain trade beneath our support today . Then expect this precious metal to test upto 16.20$ – 16$ today .
A good resistance on silver chart stands at 16.91$ . If traders break this major hurdle and manage to sustain trade above our resistance today . Then expect this commodity to test upto 17.10$ – 17.33$ today .
Silver forecast conclusion : Xagusd trend is weak for now . Avoid any major buying .
More will update to our trading signal subscribers .