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Daily Gold Analysis 2nd May ( Update )

Gold Forecast

Daily Gold Analysis 2nd May ( Update )


Good Evening Forex Friends
Shooting start candle stick pattern indicating the correction may start from here.we are expecting this correction may end around 1281-83 level that is first support and previous broken resistance.We will look for better price to enter in bullish rally.Gold next target we set at 1315-17 level.Alternately if gold bounce back and close above the high of shooting star candle stick , it will invalidate this reversal pattern and may take gold directly at 1315-17 level.We will have to look for the closing of 4 hour candle stick for break confirmation.I have mention possible next move diagram in 4 hour chart below.Please have a look.

4 Hour Update Chart

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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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