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Technical analysis of Gold for December 02, 2015

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Technical outlook and chart setups:

Gold is trading around the levels of $1,066.00/67.00 now, absolutely flat from where it was seen yesterday. Please note that the metal is testing its immediate resistance line calling for a breakout to confirm that the metal is heading towards the resistance level of $1,080.00 and higher. It is recommended to stay long with risk around $1,048.00. Immediate support is seen at $1,063.00 levels, followed by $1,052.00 and lower, while resistance is seen at $1,080.00 followed by $1,088.00/98.00 and higher.

Trading recommendations:

Remain long with stop at $1,048.00, a target is open.

Good luck!

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