Gold Price Today 

26th January 2017

4 Hour Gold Price Today ( First Target Hit )

Gold move exactly according to our expectation and hit our first target in today session.Our first target was 1181-83 after breaking the rising channel in 4-hour chart.We are still bearish in gold and expecting the more downward movement to complete the momentum in daily and weekly volume.Gold may give small correction before making a new low.The new resistance is forming at 1199-1201 level; This could be the retracement level and phycological area for sellers.The next bearish target may 1175-77 and 1163 in extension.Please have a look at a 4-hour chart below.I have mentioned possible next movement diagram with targets.

4 Hour Gold Update Chart

Support & Resistance ( Gold Price Today ) 

Weekly  Support: 1163-65

Weekly Resistance: 1221-23

Daily  Support: 1175-77

Daily Resistance: 1201-03

Hourly Support: 1183-85

Hourly Resistance: 1199-1201

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23rd January 2017

4 Hour Gold Price Today ( Broken Support Become Resistance )

Good day forex fantasies.Gold break its support of rising channel in the previous closing day.This is what we were expecting.The bearish volume was low, and there was sudden volatility in the market because of President Trump Event.Gold is still trading in a technical range, and the 4-hour resistance becomes support now. As long as gold is trading below the resistance, we will look for the bearish trade only.Bearish confirmation level is around 1203-05 area.Movement below 1201 will give more confidence towards bearish thoughts.The next target after hitting 1201 may 1183-85 and then 1171-73 in extension.

Alternately if yellow metal moves higher and closes above the resistance in hourly and daily time frame chart.It will be the earliest signal to change bearish thought and look for the buy entry from the retracement levels.I will update the analysis after the confirmation of resistance break.

Please have a look at a 4-hour gold chart below.I have mentioned possible next targets with invalidation point.

Support & Resistance ( Gold Price Today ) 

Weekly  Support: 1155-57

Weekly Resistance: 1249-53

Daily  Support: 1201-03

Daily Resistance: 1249-53

Hourly Support: 1201-03

Hourly Resistance: 1223-25

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19th January 2017

4 Hour Gold Technical Analysis Update ( Breakout Watching Zone In Rising Channel Formation )

A Breakout of rising channel is expecting in the 4 hour time frame chart in gold.Gold price today move high and reverse back towards rising channel support at 1201-03 level.This level is the watching area, and we will have to look for the break confirmation to jump in the bearish move.A couple of reason is in favoring of bearish move.Gold closed with a bearish engulfing candle at the daily chart which is also giving confidence towards bearish thoughts.MACD is also indicating bearish volume may hold the market soon.I have also mentioned break confirmation area in the chart below.If gold moves and closes below the red support line of rising channel.This will be the earliest signal for the bearish move and the entry level for bearish trade is around 1196-97.Gold next bearish target is 1171-75 minimum and 1155-57 in the case of extension.

Alternately, if gold fail to break the support and bounce from the rising channel at 1201-03.In that case, yellow metal next resistance is at 1229-31.

I am expecting a bearish move for minimum 1175 and maximum 1155.We may see a big bounce from 1155 level towards possible new high at 1249-51 which is also our weekly target.Please view the 4-hour chart below.I have mentioned possible movement diagram with alternative movement analysis.

4 Hour Gold Update Chart 19th January 2017

Support & Resistance ( Gold Price Today ) 

Weekly  Support: 1155-57

Weekly Resistance: 1249-53

Daily  Support: 1175-77

Daily Resistance: 1249-53

Hourly Support: 1201-1200

Hourly Resistance: 1229-31

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16th January 2017 Gold Analysis

Weekly Gold Predictions

The 1201-05 level was expected in a previous weekly analysis.It was what happened in earlier week gold move high and touch it weekly resistance around 1203-05 level.This is the key level to watch for next yellow metal predictions.There is still enough momentum in weekly charts, which may take gold towards next high around 1249-53 level on a long term basis.Currently gold is trading at its resistance zone.We are expecting correction for a short term basis towards minimum 1180 and maximum 1155 level.Weekly closing above 1205 will invalidate the correction thoughts and may take gold directly towards the new high.We will look for daily and hourly charts to confirm the break of correction.I have shared weekly gold chart below with key points.Please have a look.

Weekly Gold Chart

Daily Gold Predictions

Small Blue candles at resistance zone from of days indicating confusion between bulls and bears in a daily time frame chart.We will have to look either bulls will win this war or bears may hold the market from the current level.We will look for daily closing to get the better picture for next moves.We are still expecting a correction in daily basis towards minimum 1180 and maximum 1155-57 level.If gold breaks the resistance level and closes above the resistance in a daily candle, this will be the confirmation of upcoming bullish move towards 1149-53.If gold moves lower and fail to break the resistance and close below 1199 in a daily chart, this will be the signal to jump for short term bearish moves.Its better to wait for the good price to buy  gold.For me, I am looking for lower levels to ride the next possible move.Please have a look at a daily gold chart below.I have mentioned possible next movement diagram and key levels.

Daily Gold Chart

Hourly Gold Predictions

Gold is trading in a range of rising channel and making lower high and higher high from a couple of days.The beauty of rising channel is we can predict and spot lower high levels to buy. This rising channel will also help us to exit from bullish trades if we get 4h candle closing below the support of channel ( red line ). I have shared two possible movement diagrams in the 4h chart below.If gold breaks the channel and close below the red line, it will take gold towards 1180 minimum and 1155-57 maximum.Alternately if gold fails to break the support then next rising channel higher high resistance is at 1225-27 level.The best way to catch this ride is to watch the red line area closely.If you get any bullish candle pattern from the support, go for the bullish trade with invalidation below the red line.If gold breaks the support, then the best area for selling gold is after the break of invalidation line around 1192-93 area.Please look at below 4-hour chart.I have made two different movement diagrams for your help.

4H Gold Chart

Support & Resistance ( Gold Price Today ) 

Weekly  Support: 1150-51

Weekly Resistance: 1249-53

Daily  Support: 1157-58

Daily Resistance: 1249-53

Hourly Support: 1180-81

Hourly Resistance: 1225-27

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12th January 2017 Gold Analysis

It was expected a bounce from the rising channel support to touch next high at 1201.The gold move lower and bounce from the support as per prediction and give high at 1197-98 level, which is close to our target.Gold price today is trading at 1191-92.We are still bullish in gold because of enough momentum in gold.Weekly target is at 1201 level. I am expecting a correction from 1201-05 level towards 1180-75 area.4-hour Chart, next resistance of rising channel, is forming at 1211-12 area, but 1201 level is the weekly resistance zone.Gold may give reversal from 1201-05.

If gold moves lower and breaks the support line of rising channel in hourly chart, it may take gold towards minimum 1150 level for a bearish target.

Please have a look at a 4 Hour gold chart below. I have mentioned possible next target level with support and resistance areas.

Note: If you want to jump in bearish trade.Then please wait for the break of red support line of rising channel.

4 Hour Gold Update Chart ( Gold Price Today )

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9 – 10th January 2017 Gold Analysis

Our previous (yellow Metal) gold predictions, we were expecting a more bullish move from the support level.This is what happened, gold move upside and give a new high around 1185.Our expected second target was 1187-91, Which was quite close but gold fail to touch the target and making a couple of reversal candles on hourly charts.We have to look these reversal candles are either corrective candles or it may break the support to start downtrend again.Today I am sharing three different time frame chart analysis to give my logical view about gold price today, and possible next move.Please go through the report written below.

Weekly Gold Overview

In our past week gold analysis, we predict bounce from the extreme support level mentioned in the chart below.Gold move exactly according to our predictions and hit our first target in the previous week and just hit with a 2$ difference for our second target.We are still expecting more upward movement as there is still enough momentum in the weekly chart for gold to touch its weekly first resistance at 1201 level.1201 level is the watching level; gold may give reversal signal fro 1201-03 level, or it may break this level to rise more.So the watching area in a weekly trend is 1201.We will look for reversal or bullish continuation pattern from this area.

Please have a look at a weekly chart below to get the gold price today analysis.I have mentioned possible next movement diagram with watching area mentioned in it.

Weekly Gold Chart ( 10th January 2017 )

Daily Gold Over View

It looks like the bullish rally not completed yet.It may give more bullish move towards 1199-1201 according to daily gold chart.However, it can also start correction if gold fails to break previous day high which is around 1183-84.Today closing may explain the picture for the next possible move.We will look for a shorter time frame to see the exact level or reversal or continuation pattern to get the better gold trade idea.Please have a look at the daily chart below.I mentioned next resistance area and reversal zone.

4H Gold Over 

Gold is trading in a rising channel from a couple of days in a 4H chart.The beauty of rising channel is it makes higher high and lower high.The best way to trade the rising channel is to trade from lower high and set your target at the higher high resistance level.Gold recently touch its higher high around 1185 and reverse back to reach lower high support zone around 1171-72 with a bounce towards new high.We can see a clear reversal candle and resistance rejection in previous hour candle which is mentioned in the chart below.This reversal candle is also making a double bottom pattern in 4H chart.We have to look either this double top and reversal candles are the start of a correction or it will give new lower high to make new high around 1201 level, because if gold bounce again from the next support level, then the next resistance of rising channel is at 1201 level which is also the weekly target.Alternately if gold breaks its rising channel support and closes below the support in hourly chart.It will be the earliest indication that buyers are in control and sellers take the turn for new bearish moves.If gold breaks the support, then we may see gold towards 1150 minimum which is also the support on an hourly and daily chart.

My suggestion is to wait for the price to touch the rising channel support area.If we get the clear bullish candle from the support, we will jump in the market will invalidation below the support line which is mentions in a red line in a chart below.If gold breaks its support and close below the red line, then we will consider sell entry for the target 1150 with invalidation above the broken support line. Please see the hourly chart below for logical entry points.

4 Hour Gold Analysis Chart

 

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5th January 2017 Gold Analysis

Good day for Gold riders. I  hope you guys enjoyed the ride.More high was expected in our previous analysis.Our first target was 1171-73 which is met today.We are still bullish in gold, but we will wait for the correction.The gold new support is at 1163-65 level.Gold may give a new high after some correction, and this correction may end around 1163-65 area which may b the best price to buy gold again for the next target 1187-91.Gold is trading in a rising channel and making higher high and lower high.This is the beauty of rising channel formation.Please have a look at an Update 4-hour chart below, I have mentioned possible next movement diagram with invalidation zone.

Please keep in mind if gold breaks the support of rising channel and close below the support in hourly chart, it will invalidate the channel and our bullish thoughts.

4 Hour Gold Update Rising Channel Formation Chart

4th January 2017

The bounce was expected from 1149-50 level in our previous day prediction.This is what happened in gold, it comes down and bounces back from the support of rising channel in hourly chart.This gives us more confidence to remain bullish and to hold our decision for the minimum target 1171-73 level.Gold is trading at a current market price at 1157-58.New support becomes at 1153 area.Please have a look at a 4-hour update gold chart below.I have mentioned possible next movement diagram with invalidation area.

4 Hour Gold Update Chart 4th January 2017

Support & Resistance

Hourly Support: 1153-54

Hourly Resistance: 1171-73

 

2nd January Analysis 2017

Gold Price today is trading around 1151-53.We were expecting the bounce in our previous analysis, Gold move high after breaking the resistance in the hourly chart and close above 1151 level which was the broken support that becomes resistance.Closing above the resistance giving more confidence towards our bullish thoughts.I am sharing three different time frame chart analysis today.Please go through the gold analysis written below.

Gold Price Today ( Weekly Technical Analysis )

Gold is trading near to its support zone and previous week closing above the support level with bullish candle confirms the expected bounce.Now we already have a clear bottom ( support level ) to trade gold.It is expecting gold may touch 1191-93 level in a couple of weeks.Movement above 1173-75 will give more confidence towards this target.Please keep in mind if gold moves lower and close below the red line which is showing on the weekly gold chart below.It will invalidate our bullish thoughts.We will share our alternate weekly analysis in that case.We are bullish in gold from the current market price.Please see the weekly chart below, I have mentioned possible next movement diagram with targets and invalidation zone.

Previous Analysis  Trading Gold Previous Analysis

Weekly Gold Chart ( 2nd January 2017  ) 

Gold Price Today ( Daily Technical Analysis )

Clear bounce from the support and closing above the resistance area in daily time frame chart indicating more bullish move for a couple of days.In our previous daily gold analysis, it was expecting for the bullish move after the break of resistance 1151-53, which was also the watching area for reversal confirmation.Now resistance will act as a support and we may see a huge bounce from 1149-51 level towards minimum 1171 and maximum 1190-93 level.Please have a look at a daily gold chart below, Gold possible next target and invalidation zone is mentioned in the chart below.

Daily Gold Chart ( 2nd January 2017 )

 

Gold Price Today ( 4 Hour Technical Analysis ) 

Gold is rising after making a bottom around 1121-23.Gold was moving in a descending channel in a 4-hour chart from of days.We were looking for the break of resistance to going for the bullish rally.Gold break its descending channel resistance in the previous week, which gives us earliest thoughts to jump in for bullish move with minimum target 1171-73 and maximum 1190-93 which is also the weekly resistance area.After breaking the resistance line of the descending channel, The resistance will act as a support now for buyers.Please have a look at a 4-hour chart below, I have mentioned possible next movement diagram with invalidation zone.

4 Hour Gold Chart ( 2nd January )

Support & Resistance

Weekly  Support: 1122-25

Weekly Resistance: 1191-93

Daily  Support: 1149-51

Daily Resistance: 1170-73

Hourly Support: 1149-51

Hourly Resistance: 1161-62

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Wish you good luck and happy trading

Mati Ur Rehman

Gold Analyst @ Dailygoldanalysis.com