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Daily Gold Analysis 12th April ( Update )

Gold Forecast

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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Feel free to comment below if you have any concern regarding charts and analysis.Your feedback is always welcome and help us to improve.

Wish you good luck and happy trading

Mati Ur Rehman

Gold Analyst @ dailygoldanalysis.com


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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