Daily Gold Analysis Update :

Good Evening forex friends.Today analysis we were expecting a possible bounce 1221-22 level.Gold move exactly according to our expectations and give a high at 1235.Gold immediate resistance is at 1237-41 level.This will be the watching area.If gold break and close above the resistance in 1 hour time frame chart , then the possible next target will be 1249 and then 1267-71 in extension.i am sharing 1 hour time frame update chart below.Please have a look at chart.

Previous 1 hour chart

For your reference of previous analysis.I am sharing previous 1 hour chart below.

Note : Those who follow my previous analysis can close half position at 1237 and move stoploss to entry point And if you miss last trade setup please wait for the break of 1 hour resistance and enter the market after break confirmation.

Never risk more then 2% of your trade account in single trade.Adjust your stoploss and lot sizez according to money management plan.

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We always welcome the feedback and comments regarding charts and analysis.

Wish you best of luck for trading

Mati Ur Rehman

Gold Analyst @ dailygoldanalysis.com