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[QUOTE="bhanu545, post: 73680, member: 7126"]
[b]Gold Technical analysis for November 24, 2014[/b]

Gold price continues to trade around the 61.8% retracement level. The trend is neutral as we have not seen a clear break above $1,200 yet. A clear break above $1,200 could push Gold price towards $1,225. Critical short-term support is found at $1,190-$1,174. I still believe this upward move from $1,130 is corrective and we have not seen the low in Gold price.
[IMG]https://forex-images.instaforex.com/userfiles/20141124/goldh4.jpg[/IMG]
Black line = support 
Gold price continues to trade around the 61.8% Fibonacci retracement which is important resistance. Holding above the cloud and the black trend line is a sign that bulls continue to have the upper hand. Short-term support by the kijun-sen is at $1,191. Soon, we will see if support holds and price bounces above Friday's highs or we see a trend reversal from the current levels and a push towards $1,174 support. My longer-term view remains bearish targeting at $1,050.

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