GOLD (XAUUSD) Technical Analysis 2014, 30.11 - 07.12: Ranging Bearish

D1 price is on primary bearish with secondary breakdown.

W1 price is on primary bearish with ranging between 1131.93 support and 1255.10 resistance levels.

MN price is on bearish market condition for trying to break 1161.17 support for the bearish to be continuing.

If D1 price will break 1207.70 resistance level so the secondary rally within primary bearish will be started
If D1 price will break 1175.15 support level so the primary bearish will be continuing
If not so we may see the ranging within bearish market condition.

• Recommendation for long: watch D1 price to break 1207.70 resistance for possible buy trade
• Recommendation to go short: watch D1 price to break 1175.15 support level for possible sell trade
  
• Trading Summary: bearish
  

SUMMARY : bearish