Daily Gold Analysis 29th July 2016
Good Afternoon Gold Riders
In our previous analysis we were expecting gold target at 1341-43 after the break of 1326.This is exactly what happen with the gold move.Gold break its resistance and hit our first target 1343.We are still bullish in gold.I believe gold will give more bullish moves after some correction.I am sharing 4 hour time frame chart analysis below to give my logical thoughts about gold next move.Please go through the analysis written below.
4 Hour Technical Gold Analysis
Gold hit our first target and move exactly according to our previous 4 hour analysis.I believe gold is in correction mode and it will give another bounce once this correction will over.Gold next target after the correction may 1353-57 and 1369 in extension.Next minimum support is forming at 1331 and 1323-25 level which will be the best level to buy gold .Invalidation if gold break 1319 and close below this level , it will invalidate our bullish set up which is showing in the chart below.Please have a look in a 4 hour chart below, i mention possible bounce area with target levels.
4 Hour Gold Technical Chart
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Mati Ur Rehman
Gold Analyst @ Dailygoldanalysis apoteketgenerisk.com.com
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