In the daily charts, the short term directional indicators are on the way lower at around the 40% mark now.
The medium term trending indicators have just breached back under the parity line which will put gold on a soft footing into the new year.
The long term directional indicators will not likely get its day in the sun anytime soon, with the prices there it is at right now.
In the weekly charts, the short term directional indicators are still north bearing and may need gold to close below 1050 before it starts showing any weakness.
The medium term trending indicator although it has crossed higher, can easily become unstuck and the soft bias prolonged.
The long term directional indicator almost crossed back higher but it was expertly withheld from doing that and so the weakness will likely linger and new lows maybe had after the New Year.
The momentum/volatility indicators for both the daily/weekly are at ultra low levels and any attempts either way might not yield too much depth and definitely no capricorn effect this year.
Interim supports are at 1063.50, 1058.50 & 1046.50 with minor supports at 1030.80, 1023.80 & 1019.50.
Interim resistances are at 1075.50, 1079 & 1094 with minor resistances at 1074.10, 1084.80 & 1123.20.
The daily/weekly trend changer points are at 1081.80/1125.25.
This is Mib Agenti's last report for 2015 and wishes A very Happy New Year to All.
Wishing Everybody Very Good Health, Good Luck, Abundant Wealth & May All your Desires Come True in 2016.
Get Gold Trading Chat, excerpts from there
The medium term trending indicators have just breached back under the parity line which will put gold on a soft footing into the new year.
The long term directional indicators will not likely get its day in the sun anytime soon, with the prices there it is at right now.
In the weekly charts, the short term directional indicators are still north bearing and may need gold to close below 1050 before it starts showing any weakness.
The medium term trending indicator although it has crossed higher, can easily become unstuck and the soft bias prolonged.
The long term directional indicator almost crossed back higher but it was expertly withheld from doing that and so the weakness will likely linger and new lows maybe had after the New Year.
The momentum/volatility indicators for both the daily/weekly are at ultra low levels and any attempts either way might not yield too much depth and definitely no capricorn effect this year.
Interim supports are at 1063.50, 1058.50 & 1046.50 with minor supports at 1030.80, 1023.80 & 1019.50.
Interim resistances are at 1075.50, 1079 & 1094 with minor resistances at 1074.10, 1084.80 & 1123.20.
The daily/weekly trend changer points are at 1081.80/1125.25.
This is Mib Agenti's last report for 2015 and wishes A very Happy New Year to All.
Wishing Everybody Very Good Health, Good Luck, Abundant Wealth & May All your Desires Come True in 2016.
Get Gold Trading Chat, excerpts from there
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