Gold has been keeping to the higher end of the recent ranges.
However without any substantial moves higher has now put gold on a path lower just as the technicals resychronised and it is weighing down on itself and possibly further disruptive news will push it back higher.
In the daily charts the short term directional indicators had a mini rebound off the 30% mark to the 50% mark but with the price action lower, might cause it to dribble lower again.
The medium term directional indicators has in it, formed a double divergence and almost challenging the parity line.
If prices continue to slide, then the parity line could be challenged as early as Wednesday.
The long term directional indicators is caught in a stasis and would be at least 2 weeks at the quickest, if any new direction/signal could be generated.
The momentum/volatility indicators has entered a deceleration phase and look set to continue for at least 2 to 3 weeks with current levels just pushing towards 20% level..
Interim supports are at 1233, 1226 & 1212 with minor supports at 1239.30, 1228 & 1218.40.
Interim resistances are at 1250.50, 1258.50 & 1275 with minor resistances at 1251.70, 1268.30 & 1272.70.
The daily/weekly trend changer points are at 1278.10/1137.20.
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However without any substantial moves higher has now put gold on a path lower just as the technicals resychronised and it is weighing down on itself and possibly further disruptive news will push it back higher.
In the daily charts the short term directional indicators had a mini rebound off the 30% mark to the 50% mark but with the price action lower, might cause it to dribble lower again.
The medium term directional indicators has in it, formed a double divergence and almost challenging the parity line.
If prices continue to slide, then the parity line could be challenged as early as Wednesday.
The long term directional indicators is caught in a stasis and would be at least 2 weeks at the quickest, if any new direction/signal could be generated.
The momentum/volatility indicators has entered a deceleration phase and look set to continue for at least 2 to 3 weeks with current levels just pushing towards 20% level..
Interim supports are at 1233, 1226 & 1212 with minor supports at 1239.30, 1228 & 1218.40.
Interim resistances are at 1250.50, 1258.50 & 1275 with minor resistances at 1251.70, 1268.30 & 1272.70.
The daily/weekly trend changer points are at 1278.10/1137.20.
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