Weekly View 01 Dec - 06 Dec

Gold pretty much traded within a tight range of USD 1230 and USD 1254 last week. As long as it is trading below USD 1276, the view remains bearish. Above USD 1276 the view will shift to neutral and the move considered a correction unless the price breaks the 150 SMA Daily and USD 1350 level. Beyond that it has to be seen if the current USD 1250 level would have been established as a base. Below USD 1235 we are expecting a test of USD 1180.

Trade Happy, Trade Safe :)