Gold forecast
Comex Gold ( xauusd ) price cut got deeper yesterday as market could not hold any support and tested 1123$ . Currently prices are trading at 1131$ . A good support on daily chart stands at 1118$ . If traders break this major base level and manage to sustain trade beneath our support today . Then expect gold prices to test upto 1109$ – 1100$ today .
A good resistance on daily chart stands at 1142$ . If traders break this major hurdle and manage to sustain trade above our resistance then expect gold price to test upto 1151$ – 1160$ today .
Comex Gold forecast conclusion : Gold trend is weak for now , Its friday so do not take heavy position and better not to carry any position for next week .
Silver forecast
Comex Silver ( xagusd ) price also had a bad day yesterday as it tanked below 15.90$ . No breather could save this metal last night as it got hammered pretty badly . Currently prices are trading at 16.12$ . A good base level on daily chart stands at 15.90$ . If traders break this major level and manage to sustain trade beneath our support today . Then expect silver prices to test upto 15.70$ – 15.50$ today .
A good hurdle on daily chart stands at 16.32$ . If traders break this major hurdle and manage to sustain trade above our resistance today . Then expect silver price to test upto 16.54$ 0 16.84$ today .
Comex Silver forecast conclusion : Silver trend is weak for now .
More will update to our trading signal subscribers .