GOLD 1200
Another Wide Range
On the short term ; the market has more buying momentum and broke the level of 1188 , if the market hold above that level would mean the buying pressure would accelerate to push the market further to the level of 1215/1225 , in case ( less probable scenario ) slides below the 1175( major support ) then a downward breakout would be the most expected market reaction targeting the level of 1155.
On the longer-term view : The view has become stabilized after a drop was expected further ; the market would range between 1280 and 1130; the penetration of one of this level would determine the new longer term( which is downside move is the most probable scenario to target 1120 and 1050 , and an upside move to 1280 before the expected decline ) direction and continuously we would update the view as the factors are changing .
Daily Trend: UP
Weekly Trend: Range
| Support | Resistence | |
| Level 1 | 1172 | 1188 |
| Level 2 | 1162 | 1197 |
| Level 3 | 1155 | 1205 |
