Daily Gold Analysis 21st April 2016 ( Update )
Good Afternoon Forex Friends
In our morning analysis we were expecting a possible correction or break of resistance to jump in the market.Gold fail to touch the support and move high.Current market price is 1256-57 that is 4 hour symmetric resistance.We will look for the confirmation of break.If 4 hour candle close above the resistance line , we will consider it resistance break.Please keep in mind we consider closing of candle stick above the resistance for confirmation.Gold next target may 1277-81 and invalidation is below the broken resistance that will become support.I am sharing 4 hour chart to give you better understanding.
4 Hour Update Chart
I am also sharing previous 4 hour chart for the reference
Previous 4 Hour Chart
Note : Please wait for the closing of 4 hour candle for break confirmation
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Mati Ur Rehman
Gold Analyst @ dailygoldanalysis.com