XAUUSD Daily Forecast Dec 19 2014

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Outlook in XAUUSD remains on the downside as long as 1213 resistance holds on a 4 hour closing basis , support comes at the 1196 levels , losing this level will open 1182 next , a cut will bring free fall towards the 1169/1154 levels…

On the upside , stability above the 1196 levels could mean a return to the 1213 levels , a halt is strongly suggested , but a break will extend recovery towards main resistance at the 1223 levels . If this resistance is taken , strong rebound should be seen towards the 1231/1238 levels.

In all , as long as 1213 resistance holds on a 4 hour closing basis , outlook in XAUUSD remains on the downside towards the 1196 levels ahead of the 1182 levels , above the 1213 levels will bring rebound towards the 1223 levels before the next fall…

 

XAUUSD Daily Forecast Dec 19 2014

 

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