Daily Gold Analysis 12th April ( Update )
Good Evening Forex Friends
Today we were expecting a correction towards 1244-47 minimum.it was not happen and gold move up and give high at 1263 level.Price is still moving in a rising channel in 1 hour time frame chart.Next resistance is at 1269-71 level.Minor support is at 1253-53 and next possible support is at 1243-47.I have mention 2 support lines in the chart below.I suggest you to wait for the better price to jump in the market.If gold move lower and break below the rising channel in 1 hour time frame chart then we may see gold at 1231-32 area.Please be patience in the market and wait for the best level to buy.Please look at the chart below for better understanding.
Hourly Update Chart
I am also sharing previous 1 hour chart for the reference.
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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Mati Ur Rehman
Gold Analyst @ dailygoldanalysis.com