Gold forecast
Gold ( xauusd ) price crashed yesterday after making a high of 1292.50$ . It tested 1250$ in early session today and bounced back from lows . Currently prices are trading at 1262$ . A good hurdle on chart stands at 1271$ . Once traders break this major resistance and manage to sustain trade above our resistance today . Then expect some recovery in gold prices upto 1279$ – 1286$ today .
A good support on daily chart stands at 1248$ . Once traders break this major level and manage to sustain trade beneath our support today . Then expect gold prices to test upto 1240$ – 1232$ today .
Gold forecast conclusion : Xauusd trend is weak for now .
Silver forecast
Silver ( xagusd ) price trading at 18.62$ . Its trading almost rock solid since yesterday as it did’nt fall at all . It tested 19$ yesterday and showed some consolidation . A good base level on daily chart stands at 18.30$ . Once traders break this major level and manage to sustain trade beneath our support today . Then expect silver prices to test upto 18.05$ – 17.80$ today .
A good hurdle on daily chart stands at 18.85$ . Once traders break this major hurdle and manage to sustain trade above our resistance today . Then expect silver prices to test upto 19$ – 19.20$ today .
Silver forecast conclusion : Xagusd trend is flat for now .
More will update to our trading signal subscribers .