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Daily Gold Analysis 22nd April ( Update )

Gold Forecast

Daily Gold Analysis 22nd April ( Update )


Good Evening Forex Friends

Gold is trading near a support zone of 4 hour time frame chart.Rising channel support is at 1231-35 area.We are expecting a bounce from  this area towards 1249 and 1277 in extension.1249 is the psychological resistance and 1275-77 level is the rising channel resistance.Please adjust your stop loss below the support level.We consider break if 4 hour candle stick close below the support. Alternate target may 1211-13 and 1201-03 in extension. Please wait for the confirmation before jumping in the market.I am sharing 4 hour update chart below , Support , possible buying area , target and invalidation points are mention in the chart.

4 Hour Update Chart

I am also sharing previous 4 hour chart for the reference of morning analysis.Please have a look below.

Previous 4 hour chart

Note : Please wait for the closing of 4 hour candle for bounce or break confirmation

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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