c Daily Gold Analysis 16th May 2016 ( Update ) - Daily Gold Analysis | Forex Trading | Gold Technical Analysis

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Daily Gold Analysis 16th May 2016 ( Update )

Gold Forecast

Daily Gold Analysis 16th May 2016 ( Update )


Good Evening Forex Friends

Gold is at the watching level , We will have to look either it will break the resistance or reverse back.next 4 hour closing will clear the picture.If gold close above the resistance, then next target for bullish rally may around 1297-1301.If gold close below the resistance line then gold may give bearish move towards minimum 1263 and maximum 1255-56 level.Please watch the key area and jump in the market after the confirmation.I am sharing 4 hour update chart below to give you better understanding.

4 Hour Gold Update Chart

I am also sharing previous 4 hour chart for the reference of morning analysis.

Previous 4 Hour Chart

Note : Never risk more then 2% of your account capital 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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