Daily Gold Analysis 17th May 2016
Good Morning Forex Friends
Today we are facing internet problem.We are sharing only 4 hour time frame chart to give our logical view regarding gold.
In our yesterday analysis we were looking to jump after the break of 4 hour resistance around 1281-83 level.Gold break the resistance in 4 hour time frame chart but reverse back indicating false break.Gold immediate support is around 1270-71 level and second support become 1262-63 level.Movement below 1255 will invalidate the bullish thoughts.Our main focus if to get better price for bullish move.We are looking for buy entry after the break of resistance again from 1281-83 level towards 1301-03 minimum target.If gold fail to break the resistance then we will look for better price around 1263 to jump in the possible next bullish rally.I am sharing weekly , daily and 4 hour time frame chart below.Please have a look.
Gold Technical Charts
Gold Daily Chart
Note : Never risk more then 2% of your account capital in single trade.Always trade with proper risk management plan.
Site Announcement And Updates
We are also starting video analysis soon.We are working to make quality videos to give better understanding of our analysis.Our team is working to start education session very soon for beginners to understand the Forex basics.Those who want pro Forex technical analysis course can contact us via email.
Trade Recommendations : Those who want our trade recommendations with proper entry and target points may contact us via email.We have set our minimum fees for the paid clients.
( Stoploss has been hit in yesterday recommendations, We hope to get good pips in today’s Expectations)
Forex Education : Those who want to learn forex technical analysis can contact us via email.We will start our skype classes session for interested members.
Email : firstname.lastname@example.org
Skype : mati_ji
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