With gold holding steady here above 1205, in the weeklies, the earlier softness seems to have evaporated but being the weekly, it is simply a bigger creature with more girth so will be prone to be slower in reacting.
Just as well, the dailies look like it's trying so very hard to change track. However, the key is, it must at least cross 1215 and close above there in order to be relevant, a Herculean effort in itself, if there is no stimulus, aka, news, economic data, etc.
The momentum indicators are not fired up at the moment so the attempt could fall flat on itself.
Interim supports are at 1201, 1193.70 & 1185.50 with minor supports at 1200.10, 1178.60 & 1168.70.
Interim resistances at 1211.30, 1216.70 & 1228.70 with minors at 1218.50, 1221.70 & 1238.
The daily/weekly trend changer points at 1221.70/1232.70.
Keep your eyes wide open before trading.
https://play.google.com/store/apps/details?id=com.gold.trading.chat
Just as well, the dailies look like it's trying so very hard to change track. However, the key is, it must at least cross 1215 and close above there in order to be relevant, a Herculean effort in itself, if there is no stimulus, aka, news, economic data, etc.
The momentum indicators are not fired up at the moment so the attempt could fall flat on itself.
Interim supports are at 1201, 1193.70 & 1185.50 with minor supports at 1200.10, 1178.60 & 1168.70.
Interim resistances at 1211.30, 1216.70 & 1228.70 with minors at 1218.50, 1221.70 & 1238.
The daily/weekly trend changer points at 1221.70/1232.70.
Keep your eyes wide open before trading.
https://play.google.com/store/apps/details?id=com.gold.trading.chat
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