In the dailies the short term directional indicators have just turned down.
Hopefully it gains sufficient traction and also overrun the medium and longer term indicators which could bring us to at least 1050.
That will at least bring fresh interest to the market compared to the current levels with only minimum volumes plying through.
The medium term trending indicator's ascent is tapering off and weighed down with gold below 1130 and should be able to resist downward pressures for at least another day or two before any confirmation might be seen, if it comes to pass.
The long term directional indicator has gone back to consolidation zone and will not be likely to see new directions at the end of the week, it's just a tad too far.
The momentum/volatility indicators are just purring, not yet reach frantic levels.
In the weeklies, the short term directional indicators are downward sloping so might provide some pressure for now.
The medium term trending indicator remains unmoved with upside bias for now while the longer term directional indicators suggest it is trying to reach a state of stasis.
Interim supports are at 1120, 1112 & 1096 with minor supports at 1118, 1103.50 & 1070.40.
Interim resistances are at 1129, 1145.50 & 1159 with minor resistances at 1132, 1142.20 & 1157.
The daily/weekly trend changer points are at 1102.30/1153.60.
Get Gold Trading Chat, excerpts from there
Hopefully it gains sufficient traction and also overrun the medium and longer term indicators which could bring us to at least 1050.
That will at least bring fresh interest to the market compared to the current levels with only minimum volumes plying through.
The medium term trending indicator's ascent is tapering off and weighed down with gold below 1130 and should be able to resist downward pressures for at least another day or two before any confirmation might be seen, if it comes to pass.
The long term directional indicator has gone back to consolidation zone and will not be likely to see new directions at the end of the week, it's just a tad too far.
The momentum/volatility indicators are just purring, not yet reach frantic levels.
In the weeklies, the short term directional indicators are downward sloping so might provide some pressure for now.
The medium term trending indicator remains unmoved with upside bias for now while the longer term directional indicators suggest it is trying to reach a state of stasis.
Interim supports are at 1120, 1112 & 1096 with minor supports at 1118, 1103.50 & 1070.40.
Interim resistances are at 1129, 1145.50 & 1159 with minor resistances at 1132, 1142.20 & 1157.
The daily/weekly trend changer points are at 1102.30/1153.60.
Get Gold Trading Chat, excerpts from there
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