Gold forecast
Gold ( xauusd ) price trading at 1263$ . It fired yesterday once again as it tested 1270$ . Sellers tried to push it back in 1250$ zone but prices could not sustain on lower levels and now back in positive zone . A good resistance today on gold chart stands at 1270$ . If traders break this hurdle and manage to sustain trade above our resistance . Then expect xauusd to zoom upto 1279$ – 1287$ today .
A good support on gold chart today at 1252$ . If traders manage to breach this support and manage to sustain trade beneath this level . Then expect xauusd to correct upto 1242$ – 1233$ today .
Gold forecast conclusion : Trend is positive for now . Above 1270$ more power for bulls not ruled out . But avoid buying on these levels .
Silver forecast
Silver ( xagusd ) price trading at powerful point of 16.10$ . Yesterday it totally outperformed gold and shown its muscles when it started firing above 15.75$ . Currently a good resistance on silver chart stands at 16.31$ . If traders break this hurdle and manage to sustain trade above our resistance . Then expect xagusd to zoom upto 16.55$ – 16.81$ today .
Silver is the reason which is keeping its counterpart up . A good support on silver chart stands at 15.80$ . If somehow traders break this and manage to sustain trade beneath this level . Then expect xagusd to face some consolidation upto 15.60$ – 15.30$ today .
Silver forecast conclusion : Trend is positive for now .
More will update to our trading signal subscribers .