At long last, gold has finally thrashed the 1180 psychological level.
However, what it makes of it is still open to "suggestion".
With the price where it is now and if it closes sub 1180, then the weeklies will also look pressured and next week should see gold extend further losses.
However if it somehow manages to claw back the losses and closes nearer the 1190's , then this move lower is a wasted endeavour.
The momentum/volatility in the daily & weekly are still not building up sufficiently and hopefully over the course of next week it does improve, we may then get to see at least till 1140's as most of the other indicators in the daily/weekly will then be pressurising.
Interim supports are at 115, 1138.50 & 1126 with minor supports at 1168.70, 1161.50 & 1144.60.
Interim resistances at 1185, 1192.40 & 1200 with minors at 1183.50, 1191 & 1207.50.
The daily/weekly trend changer points are at 1217.40/1224.10.
Keep your eyes on the charts and track the momentum.
https://play.google.com/store/apps/details?id=com.gold.trading.chat
However, what it makes of it is still open to "suggestion".
With the price where it is now and if it closes sub 1180, then the weeklies will also look pressured and next week should see gold extend further losses.
However if it somehow manages to claw back the losses and closes nearer the 1190's , then this move lower is a wasted endeavour.
The momentum/volatility in the daily & weekly are still not building up sufficiently and hopefully over the course of next week it does improve, we may then get to see at least till 1140's as most of the other indicators in the daily/weekly will then be pressurising.
Interim supports are at 115, 1138.50 & 1126 with minor supports at 1168.70, 1161.50 & 1144.60.
Interim resistances at 1185, 1192.40 & 1200 with minors at 1183.50, 1191 & 1207.50.
The daily/weekly trend changer points are at 1217.40/1224.10.
Keep your eyes on the charts and track the momentum.
https://play.google.com/store/apps/details?id=com.gold.trading.chat
No comments:
Post a Comment