Gold forecast
Monday was’nt good for us as our signal target miss by 1$ and gold eaten our stoploss . Today its trading at 1216$ for now . It eaten our stoploss at 1218$ . Main problem nowdays with gold prices are that its directly reacting on crude oil prices . If crude oil goes down it goes up . If crude oil goes up it tends to correct . This is main reason we have had a rough patch in gold since last week . Currently a good support on chart at 1207$ . If traders break this support and manage to sustain beneath our support today . Then expect market to correct upto 1200$ – 1191$ today .
A good resistance on gold chart at 1228$ . If traders break this hurdle and manage to trade above our resistance . Then expect market to zoom upto 1239$ – 1247$ in today’s trading session .
Gold forecast conclusion : Trend is flat to positive for now . But stay cautious .
Silver forecast
Silver ( xagusd ) price tested 14.93$ yesterday and then kicked back from there . Currently prices are trading at 15.22$ . A good support on intraday chart at 14.90$ . If traders manage to break this support base and sustain beneath our support . Then expect market to correct upto 14.70$ – 14.50$ today .
A good resistance on intraday silver chart at 15.55$ . If traders break this hurdle and manage to sustain above our intraday resistance then expect market to zoom upto 15.80$ – 16$ today .
Silver forecast conclusion : Trend is flat to negative for now .
More will update to our trading signal subscribers .