Gold pulled back higher in the previous session a tad too early.
That is, the daily short term directional indicators didn't get to enjoy the entire length of the correction before pushing back higher.
It would be easier to push it along starting from a lower base vis-a-vis, more room to climb rather then from somewhere nearer the middle.
In the daily charts, the short term directional indicators have recoiled back to almost the 50% mark and just the gentlest of a crook forming and no where near to cutting back to the higher side yet.
In the medium term trending indicators, a small knot looks like its developing but the steepness of the indicator, makes it tough to push against the flow for now, and unlikely to push past recent highs anytime soon.
The long term direction indicators is doing a Hamlet right now, to be or not to be?
Barely keeping the direction alive by the thinnest of margins.
The momentum/volatility indicators have gone up a little, slightly above the 40% mark so makes it easy to rev it up if suits.
Interim supports are at 1223, 1216 & 1212 with minor supports at 1224.10, 1218.40 & 1212.60.
Interim resistances are at 1235, 1240 & 1254 with minor resistances at 1238, 1240.70 & 1252.
That is, the daily short term directional indicators didn't get to enjoy the entire length of the correction before pushing back higher.
It would be easier to push it along starting from a lower base vis-a-vis, more room to climb rather then from somewhere nearer the middle.
In the daily charts, the short term directional indicators have recoiled back to almost the 50% mark and just the gentlest of a crook forming and no where near to cutting back to the higher side yet.
In the medium term trending indicators, a small knot looks like its developing but the steepness of the indicator, makes it tough to push against the flow for now, and unlikely to push past recent highs anytime soon.
The long term direction indicators is doing a Hamlet right now, to be or not to be?
Barely keeping the direction alive by the thinnest of margins.
The momentum/volatility indicators have gone up a little, slightly above the 40% mark so makes it easy to rev it up if suits.
Interim supports are at 1223, 1216 & 1212 with minor supports at 1224.10, 1218.40 & 1212.60.
Interim resistances are at 1235, 1240 & 1254 with minor resistances at 1238, 1240.70 & 1252.
The daily/weekly trend changer points are at 1256.50/1065.05.
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