The dailies continue to pressure price levels but the 1200 psychological level is holding it here for now.
Due to the drop being not severe enough, the weeklies has hardly moved, that is, it is poised for some strength later on if no new lows are breached.
Gold will have to stave off attempts for breaches of 1200 for at least another week in order for the daily indicators to come to very low levels so that it becomes easy to commandeer it back higher.
Interim supports are at 1201.10, 1186.50 & 1170.80 with minor supports at 1200.10, 1178.60 & 1168.70.
Interim resistances are at 1211.40, 1229.20 & 1236 with minors at 1210.20, 1218.50 & 1221.70.
The daily/weekly trend changer points are at 1185.15/1144.55.
https://play.google.com/store/apps/details?id=com.gold.trading.chat&hl=en
Due to the drop being not severe enough, the weeklies has hardly moved, that is, it is poised for some strength later on if no new lows are breached.
Gold will have to stave off attempts for breaches of 1200 for at least another week in order for the daily indicators to come to very low levels so that it becomes easy to commandeer it back higher.
Interim supports are at 1201.10, 1186.50 & 1170.80 with minor supports at 1200.10, 1178.60 & 1168.70.
Interim resistances are at 1211.40, 1229.20 & 1236 with minors at 1210.20, 1218.50 & 1221.70.
The daily/weekly trend changer points are at 1185.15/1144.55.
https://play.google.com/store/apps/details?id=com.gold.trading.chat&hl=en
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