In the dailies, the bulk of the short term directional indicators have mostly turned down with gold at current levels and some pressure is upon it.
The medium term trending indicator has risen sufficiently to a nice height to "fall off" from, will see it having a good run lower, if new selling happens soon.
In fact, it has started leveling off and if gold doesn't recover back to 1150's, could see it trying lower really soon.
The long term directional indicator is a hair's breadth, maybe 2 hair's breadth from being confirmed and crossed over for gold to be testing higher but will it be a miss?
The medium-long term trending indicator is still positive and none worse for the wear if gold doesn't trade to 1120 and languish there.
If this indicator takes over the lead, could see gold try as high as 1190.
Looking at the momentum/volatility indicators, maybe gold may not run too far away for now.
In the weeklies, a handful of the short term directional indicators has started sagging, coiffed at the apex but not yet started moving in the downward force.
The medium term trending indicator strangely seems to be immune to the gold's currently level and maintain it's stiff back.
The long term directional indicators is showing no cues yet as it still struggles to find itself first.
Interim supports are at 1133.50, 1128 & 1115 with minor supports at 1130.60, 1124 & 1118.
Interim resistances are at 1141, 1145.50 & 1155 with minor resistances at 1143, 1157 & 1166.50.
The daily/weekly trend changer points are at 1111.30/1078.50.
Get Gold Trading Chat, excerpts from there
The medium term trending indicator has risen sufficiently to a nice height to "fall off" from, will see it having a good run lower, if new selling happens soon.
In fact, it has started leveling off and if gold doesn't recover back to 1150's, could see it trying lower really soon.
The long term directional indicator is a hair's breadth, maybe 2 hair's breadth from being confirmed and crossed over for gold to be testing higher but will it be a miss?
The medium-long term trending indicator is still positive and none worse for the wear if gold doesn't trade to 1120 and languish there.
If this indicator takes over the lead, could see gold try as high as 1190.
Looking at the momentum/volatility indicators, maybe gold may not run too far away for now.
In the weeklies, a handful of the short term directional indicators has started sagging, coiffed at the apex but not yet started moving in the downward force.
The medium term trending indicator strangely seems to be immune to the gold's currently level and maintain it's stiff back.
The long term directional indicators is showing no cues yet as it still struggles to find itself first.
Interim supports are at 1133.50, 1128 & 1115 with minor supports at 1130.60, 1124 & 1118.
Interim resistances are at 1141, 1145.50 & 1155 with minor resistances at 1143, 1157 & 1166.50.
The daily/weekly trend changer points are at 1111.30/1078.50.
Get Gold Trading Chat, excerpts from there
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