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Gold Price Forecast Today 26th May 2017 Update

Gold Forecast

Gold Price Forecast Today 26th May 2017 Update


Gold Predictions Today Update 26th May 2017

Gold price is trading near to its watching zone as we discussed in the previous analysis. Gold is still trading in a range and forming a symmetric triangle on an hourly chart.

The beauty of symmetric triangle is, it always give handsome move after breaking the triangle range.We need to check it out either it will break support or the resistance to predict the movement.

How To Trade Symmetric Triangle In Gold Today

The triangle is becoming narrow and it is now predictable if we look close to its resistance or support levels.

The narrow resistance is forming around 1259-61 zone and the support according to current price is around 1254-55.

If gold break the resistance and close above 1263 level, this will confirm the resistance break and could take gold towards its next target around 1277.

If gold break the support and close below 1251, this will be the indication of support break out and may take gold towards the 1233-37 minimum.

Please keep in mind, we will consider the break after the closing of the hourly candle, which means if candle closes below the suggested price on an hourly chart, This will be the signal to jump in.

Please have a look at the hourly chart below, I have mentioned possible watching zone and target levels.

Hourly Gold Chart Update

Gold Price Forecast 1Hour Chart 26th May 2017

Gold Price Forecast 1Hour Chart 26th May 2017

Watching Levels For Gold Trade

Resistance: 1259-61  ==> Break Confirmation For Bullish Move 1263.50

Support: 1253-54 ==> Break Confirmation For Bearish Move 1249


Wish you good luck and happy trading

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Note: Never risk more than 2% of your account capital in single trade.Always trade with the proper risk management plan.

Feel free to comment below if you have any concern regarding charts and analysis.Your feedback is always welcome and helps us to improve.

Wish you good luck and happy trading with Gold Technical Analysis

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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