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25.11.2014 08:20 AM
Technical analysis of Gold for November 25, 2014

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Technical outlook and chart setups:

Gold has been trading in a tight range since last 2 sessions as seen here. The metal trades around $1,198.00/99.00 levels for now, looking to push higher. A break above $1,208.00/10.00 levels could challenge $1,235.00 and subsequently $1,255.00; indicating that bulls are here to stay longer. On the flip side, a bearish reaction around $1,208.00/10.00 could bring the metal back under pressure. Immediate support is seen at $1,175.00, followed by $1,147.00/50.00, $1,130.00 and lower while resistance is at $1,235.00, followed by $1,255.00 and higher respectively.

Trading recommendations:

Hold partial long positions taken earlier, stop at break even, the target is open.

Good luck!

Summary
Urgency
Analytic
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