GOLD (XAU/USD) Technical Analysis 2015, 25.10 - 01.11: ranging bullish

Daily price is on bullish market condition for the ranging within the following key support/resistance levels:

• 1191.48 key resistance level located far above Ichimoku cloud in the primary bullish area of the chart;
• 1098.68 key support level located far below Ichimoku cloud in the primary bearish area of the chart.
  

Intermediate s/r levels for this pair on the way to the key s/r are the following:

• 1184.33 resistance located above Ichimoku cloud in the bullish area of the daily chart, and
  
• 1102.38 bearish support level.
  

D1 price - bearish breakdown:

• Tenkan-sen line is located to be above Kijun-sen line for the bullish trend to be continuing.
• Absolute Strength indicator's data is estimating the ranging condition.
  
• Chinkou Span line is above the price for the ranging condition to be continuing by direction.
• 'Reversal' Senkou Span line (as the border between the primary bullish and the primary bearish on the chart) is located too far from the price for poissible bearish reversal in the near future.
• Nearest support levels are 1102.38 and 1098.68.
• Nearest resistance levels are 1184.33 and 1191.48.
  

If D1 price will break 1098.68 support level so the price will be fully reversed on the bearish market condition.
If D1 price will break 1191.48 resistance level so the bullish trend will be continuing.
If not so the price will be on ranging within the levels.

• Recommendation for long: watch close D1 price to break 1191.48 for possible buy trade
• Recommendation to go short: watch D1 price to break 1098.68 support level for possible sell trade
  
• Trading Summary: breakout
  

SUMMARY : bullish trend