I have been looking at the charts and very likely tonight can be a decider and all hinges on where gold closes later.
Though it appears resilient, that is, it still trying to keep it looking not too negative by not drifting too far from 1205, but if it closes 1190 or lower, then, it will start appearing soft in the weeklies as well.
Against 2 time scales and if it looks soft, the compounded effect will likely not be ignored further.
However, the lack of momentum and volatility rears its ugly head and soften the blow.
Interim supports are at 1193, 1190 & 1183.70 with minor supports at 1178.60, 1168.70 & 1161.50.
Interim resistances at 1202, 1207.80 & 1211 with minors at 1207.50, 1218 & 1221.70.
The daily/weekly trend changer points at 1220.30/1224.10.
https://play.google.com/store/apps/details?id=com.gold.trading.chat
Though it appears resilient, that is, it still trying to keep it looking not too negative by not drifting too far from 1205, but if it closes 1190 or lower, then, it will start appearing soft in the weeklies as well.
Against 2 time scales and if it looks soft, the compounded effect will likely not be ignored further.
However, the lack of momentum and volatility rears its ugly head and soften the blow.
Interim supports are at 1193, 1190 & 1183.70 with minor supports at 1178.60, 1168.70 & 1161.50.
Interim resistances at 1202, 1207.80 & 1211 with minors at 1207.50, 1218 & 1221.70.
The daily/weekly trend changer points at 1220.30/1224.10.
https://play.google.com/store/apps/details?id=com.gold.trading.chat
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