It is good to see gold clinging on to above 1220's and will be doubly good if it also manages to close above.
If it does, especially the 1225, then it will start off on a positive footing for next week's session.
The dailies continue to look good and most of the indicators still have some room to go before it goes into overdone mode.
In fact a major trending indicator has almost confirmed but depends on the closing and that would mean gold will likely stay firm for a couple of weeks more.
The only thing holding it back is the momentum/volatility which is lacking and may need another 3 sessions to build up, that is, if it does.
Interim supports are at 1213.40, 1204.70 & 1198.60 with minor supports at 1212.60, 1208.80 & 1240.
Interim resistances are at 1227.50, 1230.20 & 1241. The daily/weekly trend changer points are at 1173.40/1142.90.
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If it does, especially the 1225, then it will start off on a positive footing for next week's session.
The dailies continue to look good and most of the indicators still have some room to go before it goes into overdone mode.
In fact a major trending indicator has almost confirmed but depends on the closing and that would mean gold will likely stay firm for a couple of weeks more.
The only thing holding it back is the momentum/volatility which is lacking and may need another 3 sessions to build up, that is, if it does.
Interim supports are at 1213.40, 1204.70 & 1198.60 with minor supports at 1212.60, 1208.80 & 1240.
Interim resistances are at 1227.50, 1230.20 & 1241. The daily/weekly trend changer points are at 1173.40/1142.90.
Check Out Gold Trading Chat in Android
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