Technical outlook - Gold - XAUUSD

Ticker: XAUUSD
LAST= 1,238.45

Gold Spot movement during the last few days showed a Bullish move, with a recent high price seen on Mon 10.Dec.2018 at 1,251.88.

The next movement is expected to continue to be in Consolidation between 1,245.00 - 1,225.00. During the next few days, Both sides of the consolidation band will tested. But as of now, as long as the price is trading above 1,235.00, the price is positively biased and its recommended to ' BE LONG ' for an attempt to test and break the upper band, to go for the targeted price of around 1,270.00 taking in consideration the resistance levels.

On the other hand, a change in the direction of the general trend needs to be considered when the price trades below the level 1,225.00

Res_2 = 1,248.50
Res_1 = 1,240.60

Sup_1 = 1,232.75
Sup_2 = 1,224.75

EmadSaqqa

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