Gold forecast
Gold ( xauusd ) price trading today at 1230$ . Yesterday it crashed in a flash after our sell signal which initiated at 1258$ . Today it tested 1225$ and now trading 5$ up from its lowest point . Gold seems exhausted and tired of being profitable for buyers only . It has entered in weak zone yesterday and a good support on today stands at 1218$ . If traders break this base support and manage to sustain trading beneath this level . Then expect xauusd to correct upto 1209$ – 1200$ today .
A good resistance on gold chart today at 1241$ . If traders break this hurdle and manage to sustain trading above our resistance today . Then expect xauusd to zoom upto 1249$ – 1257$ today .
Gold forecast conclusion : Trend is weak for now . Avoid any buying for now .
Silver forecast
Yesterday silver outperformed gold as it tested 15.80$ . It could not sustain on higher levels and quickly lost its all momentum . Today it tested 15.24$ . A good support on silver chart today at 15.15$ . If traders manage to break this base support and sustain trading beneath our support . Then expect xagusd to correct upto 14.90$ – 14.70$ today .
A good resistance on silver chart at 15.55$ . If traders break this hurdle and manage to sustain trade above this level . Then expect xagusd to zoom upto 15.80$ – 16$ today .
Silver forecast conclusion : Trend is weak for now . Avoid any buying .
More will update to our trading signal subscribers .