XAUUSD – Weekly Forecast 02-06 Dec 2013

gold _ usd

Recommendations: SHORT positions below 1251 with 1209  &  1180 as next target.
Alternative scenario: The upside breakout of 1251 will call for a rebound to 1277/1289.
Description: The weekly break below 1251 levels will build pressure on 1209 ahead of 1180 levels, sustained trading below 1180 will open 1122 ahead of 1000 levels. On the upside, break of 1251 will open 1277 ahead of 1289 levels, but upside above 1251 is likely to be limited by 1277/1289 levels, to reverse risks to the upside, sustained trading above 1289 will open 1327 levels ahead of 1361 levels.

Support and resistance : 1000 , 1122 , 1180 , 1251 , 1.289  , 1327 , 1361 , 1433 , 1591, 1921





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