Good Evening Gold Lovers
Watching the market very closely and looking for the next move.I am sharing update daily and 1 hour chart below to give better understanding.
Daily Chart :
Gold is on the way to break the major resistance at 1145-47 level.If gold break the resistance in daily , weekly time frame and close above the resistance then most probably this resistance may become strong support and we will remain bullish.If price move down and close below the resistance we will see bearish opportunities.
1 Hour Time Frame
As per today recommendation we are in trade and looking farward for next move.1 Hour chart is indicating reversal from the channel resistance area.Target and stoploss is still the same.
Never risk more then 2 % of you total capital in single trade.Always trade with proper risk management rule.
Feel free to comment below if you have any concern regarding the charts and analysis.
Wish you all the best and happy trading
Mati Ur Rehman
Gold Analyst @ Forex.today