XAUUSD Daily Forecast Dec 02 2014

Outlook in XAUUSD remains on the upside as long as support 1191 holds on a daily closing basis , resistance comes at the 1225 levels , a halt is likely , but a break would open 1240 next , further upside will aim the 1255 levels. At this point I’d expect strong resistance from the 1255 levels to contain rise from the 11131 levels and bring fall resumption , however ; a clear break above the 1255 levels will extend recovery from the 1131 levels towards the 1287 levels ahead of the 1322 levels.

On the downside  , support comes at the 1191 levels  , stability above this level will keep the bullish momentum intact , however ;  losing this level on a daily closing basis will reverse risk towards the 1175 levels where a cut will open 1146 levels, further losses will open 1131 levels…

In all , as long as support 1191 holds on a daily closing basis , outlook in XAUUSD remains on the upside towards the 1225 levels ahead of the 1240 levels . Below 1191 will reverse risk towards the 1175/1146 levels.

 

XAUUSD Daily Forecast Dec 02 2014

MARKET DATA

UPCOMING ECONOMIC EVENTS

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