Gold still stuck – Analysis - 19/12/2014

Gold price continues to move within sideways track between the trend confirmation levels represented by 1193.40 support and 1207.90 resistance, as it attempted to breach these levels yesterday without confirming this breach.

Therefore, our neutrality will remain valid until we get the waited confirmation signal for the next trend, reminding you that breaking the mentioned support will push the price to visit 1178.85 then 1161.00 levels mainly, while breaching the resistance will push the price to achieve intraday gains that its initial targets reach 1226.00 then 1255.00.

Expected trading range for today is between: 1178.85 support and 1226.00 resistance.

Expected trend for today: Neutral