Daily Gold Analysis

Good Evening Friends

Today i am starting my blog and submitting my first post about gold.Before starting the blog we will have to note something very important.This blog is only for educational purpose.We will discuss about gold analysis and predict the market through technical analysis.All analysis will based on technical and there is no guarantee and trade recommendations for those who dont know the basics of risk management and money management in forex market.
So here we are starting.I am posting Weekly, daily and 4 hour time frame analysis to get the idea for next move in gold.

Weekly Gold Analysis
Spinning Top candle stick in weekly frame indicating a reversal from the resistance.Candle closing was also below the resistance.It seems the confusion between buyers and sellers are over and sellers may take control if gold follow the resistance and give new low below the previous week low 1231-37.The next support in weekly time frame is around 1211-13 and then 1191-93 for major support.

Invalidation : Movement and closing above the resistance 1270-80 in weekly candle closing will invalidate our bearish thoughts.I mention resistance and support areas in the chart below.

Daily Gold Analysis
If we look at daily time frame chart.We can see a clear reversal candle bearish engulfing at the resistance level.But Friday closing was above the resistance.So we will have to wait for the confirmation , this could be the watching area for gold.If today closing will below the resistance we will keep our thought for selling gold.If Gold close above the resistance again we will remain the neural in the market and wait for the confirmation for Bullish or Bearish move.Movement and closing above the resistance will convert resistance into strong support and we may buy from the support.Break below the resistance will give us signal for selling gold with invalidation above the resistance level.I mention support and resistance areas in the chart below.Please have a look.

4 Hour Analysis
We may see the clear picture in 4 hour time frame chart.Most trades use 4 hour time frame chart to get better idea for intraday or swing trading. We can see the clear rising support around 1239-45 area.Gold is following this support since few days in 4 hour chart.As long as gold is following the support we will not go for sell entry.If we get clear break and closing below the support we will sell the gold accordingly.So its time to stay neutral in gold and wait for confirmation to jump in bullish or bearish.Please have a look in 4 hour chart below.

Note :

I will update the chart and analysis once i get the clear break or signal.I Suggest to bookmark our blog page to get back to see the updates.
Dont risk more more then 1% of your account in single trade.Adjust your stoploss and lot sizez according to money management rule.
Your comments below the post will appreciated.

Wish You Best Of Luck

Mati Ur Rehman

Gold Technical Analyst @ Dailygoldanalysis




Daily Gold Technical Analysis

Previous day closing near the support creates confusion for buyers to hold the trades and wait for the bounce.As per our past couple of analysis.Gold is still above the invalidation area, and we are bullish as long as gold is trading above the cancellation point.Current market price is around 1155-57 area.Weekly and daily support zone is 1151-55.We will consider invalidation only if gold move and close below 1151 in weekly and daily time frame chart.According to the technical setup, we are spotting 1151-55 the best area to buy gold.Please have a look at the daily technical gold chart below.

Daily Gold Chart For Buy Gold



Support & Resistance

Hourly Support : 1151
-Hourly Resistance : 1177-79
Daily Support : 1151
Daily Resistance 1199-1201

For More Detailed Analysis, Please Visit Our Gold Analysis Blog

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

4 Hour Gold


Daily Gold Analysis | Forex Trading | Gold Technical Analysis - We provide best gold technical analysis daily,Working in forex trading from past 8 years.Get gold price XAUUSD technical analysis daily

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Comment on Gold on May 21, 2021:

:bangbang:In yesterday’s trading session, after retesting the 1865 price area many times, but the price did not break through and went up 1883. Closed yesterday’s session with a bullish candle at 1876. With today’s event Through this rally, precious metal Gold has not shown a bearish signal and still has the possibility of going up, so at the beginning of today’s session, we will be inclined to buy this metal.

  • Switching to the H4 time frame we can see that this precious metal has a support area around 1865 as well as MA20. So in today’s session we can establish a buy position around this price range from 1865-1869. With the target will be the nearest “old peak” around 1888. Then liquidate the order and wait for the next signals.