GOLD (XAU/USD) Technical Analysis At Year-End: key resistance level to be broken in Q1 2016

The price is located below Ichimoku cloud for the primary bearish market condition with the secondary ranging within the following key support/resistance levels:

• 1285.57 resistance located below Ichimoku cloud in the primary bearish area of the chart. If the price breaks this level from below to above so 'reversal' Sinkou Span line may be the next target, and the bullish reversal of the price movement may be real one with this situation.
• 1077.19 support level located far below Ichimoku cloud in the primary bearish area of the chart. If the price breaks this level so the bearish trend will be continuing.
  

Chinkou Span line is below the price indicating the future possible breakout of the key resistance levels from below to above.

Thus, the most likely scenario for Gold (XAU/USD) at year-end situation is the following: the price will be on bearish market condition with 1285.57 resistance level to be broken by the price in the beginning of the next year.