In the daily charts, the short term directional indicators which were trying to cut back up and higher has lost some steam with the lower prices.
All is still not yet lost as it managed to steady itself around the 50% mark and gently bearing higher but, not yet crossed up.
The medium term directional indicators, the second attempt has failed and the danger of a divergence developing is a very real prospect.
The long term directional indicators are now in contact but still unable to cross over and confirm the end of the bullish bias.
The momentum/volatility indicators continue decelerating but not yet into a stasis situation yet, fingers crossed, just around the 35% mark.
Interim supports are at 1119.50, 1193.60 & 1185 with minor supports at 1200.10, 1178.60 & 1168.70.
Interim resistances are at 1213.60, 1218.50 & 1222.50 with minor resistances at 1218.50, 1232 & 1240.70.
The daily/weekly trend changer points are at 1255.10/1076.80.
All is still not yet lost as it managed to steady itself around the 50% mark and gently bearing higher but, not yet crossed up.
The medium term directional indicators, the second attempt has failed and the danger of a divergence developing is a very real prospect.
The long term directional indicators are now in contact but still unable to cross over and confirm the end of the bullish bias.
The momentum/volatility indicators continue decelerating but not yet into a stasis situation yet, fingers crossed, just around the 35% mark.
Interim supports are at 1119.50, 1193.60 & 1185 with minor supports at 1200.10, 1178.60 & 1168.70.
Interim resistances are at 1213.60, 1218.50 & 1222.50 with minor resistances at 1218.50, 1232 & 1240.70.
The daily/weekly trend changer points are at 1255.10/1076.80.
Note. The way market is developing, possibly a closing below psychological 1200, will excite new short taking.
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