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Daily Gold Analysis 5th September 2016

Gold Forecast

Daily Gold Analysis 5th September 2016


Daily Gold  

In our previous daily  gold  technical analysis, we were expecting bullish move overall, This is what happen in friday session and gold move exactly according to our expectations.We are still bullish in gold and believe gold may more give bullish movement this week.I am sharing two different time frame chart analysis to give my logical view about gold next move.Please go through the analysis written below.

Daily Gold Price Technical Analysis

Gold price according to current market is around 1323-24 level, Friday bullish movement gives more confidence to our bullish thoughts.I believe gold may give more bullish movement today.Gold price movement above 1325-26 will give more confidence towards our target 1341-43 area.It is also expecting gold may give small correction before a new high, we will look the possibity of correction in hourly chart.According to daily time frame chart, Gold is bullish and next minimum target is 1333 and 1343.Please have a look in a daily chart below, which is showing gold price movement pattern.

Daily Gold Price Technical Chart

Daily Gold Price Chart

4 Hour Gold Price Analysis

4 hour gold chart gives clear view about next movement possibilities.Bullish movement in friday session gives more confidence.Expecting little bit correction towards 1317-18 , Gold may give new high around 1333 and 1341 in extension after  the correction.Break above 1325 will give more surety towards next target.Please have a look in 4 hour time frame chart below, i have mention possible next movement diagram and alternate zone.

Gold 4 Hour Technical Chart

4 Hour Gold Price Chart

Gold Daily and Hourly Support & Resistance levels

Daily Gold Resistance 1341-43

Daily Gold Support 1307-08

Hourly Gold Resistance 1325-26

Hourly Gold Support 1316-17


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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

Email : admin@dailygoldanalysis.com

Skype : mati_ji



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.

  • 1


  1. Hamil Rodriguez September 6, 2016

    Hello Mati Ur Rehma

    Excellent prognosis gold climbed as you analyzed , this hour has climbed a little more than planned.



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