In the dailies, with gold stalling just below key resistances and it's inability to conquer and hold above it, makes it an easy target, like a sitting duck.
What is not good is the short term trending indicators which have turned down, with some down side bias.
The turning is almost near the top of the apex meaning it is newly minted.
So, if gold still refuses to push higher to void that, it will be under pressure maybe for the next 2 weeks from here on.
The medium term trending indicator is attempting to make the turn (lower) and just showing slight signs of exhaustion but that easily be remedied.
The longer term indicator has gone into a stasis and market maybe range bound until new inspiration is introduced.
The weeklies short term directional indicator has recovered and bearing north and the medium term trending indicator has recovered sufficiently and may cut upwards, and we get some length on the upside.
Interim supports are at 1109.50, 1087 & 1080 with minor supports at 1103.50, 1070.40 & 1030.80.
Interim resistances are at 1125, 1129 & 1132.30 with minor resistances at 1123.20, 1132 & 1142.20.
The daily/weekly trend changer points are 1097.45/1180.55 - NB daily point creeping higher, triggering soon?
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