Gold forecast
Gold ( xauusd ) price trading at 1245$ . Yesterday it crashed from 1250$ levels and we cashed this move . We initiated a sell signal at 1250.50$ and booked profits near 1243$ zone . Today it has a good support on chart at 1238$ . If traders break this major level and manage to sustain beneath our support today . Then expect xauusd to test upto 1230$ – 1224$ today .
A good resistance on gold chart stands at 1256$ . If traders break this hurdle and manage to sustain trade above our resistance today . Then expect this precious metal to test upto 1264$ – 1271$ today .
Gold forecast conclusion : Gold trend is weak for now . Avoid any major buying trade .
Silver forecast
Silver ( xagusd ) price trading at 16.28$ today . It crashed today upto 16.23$ . Our positional signal had target of 16.25$ . We sold at 17$ somedays back . Will update on this in next post . Currently it has a good resistance at 16.55$ . If traders break this major hurdle and manage to sustain trade above our resistance today . Then expect this commodity prices to test upto 16.80$ – 17$ today .
A good support on silver chart stands at 16$ today . If traders manage to break this support and trade beneath this level for sometime then expect more power to sellers and this precious metal could test upto 15.80$ – 15.55$ today .
Silver forecast conclusion : Silver trend is weak for now .
More will update to our trading signal subscribers