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Daily Gold Analysis 11th April 2016 ( Update )

Gold Forecast

Daily Gold Analysis 11th April 2016 ( Update )

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Good Evening Gold Lovers

Morning analysis we were expecting a correction before heading up and alternate set our buy limits to buy after the break of 1243.Price move according to alternate expectations.Gold break 1243 in early asia session and hit our first target that was 1249-51.Current market price is 1250 and we are still expecting more bullish movement .Our second target remains the same.Price may forming a rising channel pattern for next possible target.Now minor support is around 1241-43 and price may resist around 1259-61 and 1269-71 in extension. i am  sharing update hourly chart to give logical view about our next move of gold.

1 Hour Update Chart

I am also sharing previous hourly chart , Please have a look below

Previous Hourly Chart

Note : Never risk more then 2% of your trade account in single trade.Always trade with proper risk management plan.

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Wish you good luck and happy trading

Mati Ur Rehman

Gold Analyst @ dailygoldanalysis.com

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Mati

Mati Ur Rehman is a forex trader having 11 years experience in the field and knows as a technical analyst. He is an expert in XAUUSD Gold Analysis.

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