Home Gold Forecast Daily Gold Analysis 16th May 2016 ( Update )
Daily Gold Analysis 16th May 2016 ( Update )

Daily Gold Analysis 16th May 2016 ( Update )

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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

4 Hour Gold Update

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

Previous 4 Hour Chart

4 Hour  Gold

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

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Mati Ur Rehman

Gold Analyst @ dailygoldanalysis.com

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Mati Ur Rehman Mati Ur Rehman is a forex analyst having 8 years experience in forex market.He is well known in Gold Analyst and having proof track record.There are many followers of his analysis around the globe.

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