Due to the very low momentum/volatility indicators, gold managed to claw back all that it gave last Friday.
It really is an amazing feat and the amount of resources required to do that, is not little.
This renewed strength is largely due to the upcoming FOMC as traders predict delayed action on the part of the Feds in raising rates, and, coinciding with the Greek issue is definitely cause to hedge the uncertainty.
I only wish it just wouldn't stop here, as recent ranges have been uninspiring, and unable to break out at either end.
Both the dailies/weeklies are poised for lower but the upmove has skewered the dailies for now and may cause the dailies to go into a "kissing" zone, i.e., until a new direction is "decided".
Interim supports are at 1194, 1190 & 1188 with minor supports at 1178.60, 1168.70 & 1161.50.
Interim resistances at 1209, 1212 & 1222.50 with minors at 1207.50, 1218.50 & 1221.70.
The daily/weekly trend changer points at 1214.90/1216.
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