Home Gold Forecast Daily Gold Analysis 17th May 2016
Daily Gold Analysis 17th May 2016

Daily Gold Analysis 17th May 2016

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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

4 Hour Chart

Gold Daily Chart

Daily Gold Chart

Weekly Chart

Weekly Gold 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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( Stoploss has been hit in yesterday recommendations, We hope to get good pips in today’s Expectations) 

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Email : admin@dailygoldanalysis.com

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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

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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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