XAUUSD
1106
Still confirming our breakout
Market is going to lower levels as it is trading below 1125s, at the levels of 1180s/1190s the market would face a major support levels, which will be the real test of the market sentiment.
We are putting more probability on the downside move, to test the mentioned support levels as the market still below 1125s.
On the Mid-Term:
On the mid-term we still see the market on weekly time frame trading on a declining channel, after reaching the bottom of that channel (1117s levels) the market rebounded, so, we do see the price of 1200s as the mid-term target as long as the yellow metal trading within the mentioned channel which would you see it in our previous reports.
On the long-Term:
The longer-view for gold still confuse everyone , a lot see more prices below 1000s per-ounce , and major parties see a prices back toward 1500s per ounce. However , we would prefer the lower prices expectation , as we see the major support on the long-term view at 950 dollar per ounce as long as the market still trading below 1330s levels .
Daily Trend: Down
Weekly Trend: Down
| Support | Resistence | |
| Level 1 | 1102 | 1122 |
| Level 2 | 1097 | 1138 |
| Level 3 | 1085 | 1155 |
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