The dailies and weeklies are still not showing any build up in momentum and volatility - no sustainability.
In the dailies, a few of the early indicators are showing some indications the run lower are on its last legs.
If it still does not push through 1178 by the end of the week, then gold will bottom off here and head back to 1200.
On the other hand, even if it did crash through but not forcefully enough, then 1178 may act like an anchor and catapult it back higher like a bungee jumper.
Interim supports are at 1181.60, 1178 & 1168.70 with minor supports at 1178.60, 1168.70 & 1161.50
Interim resistances are at 1197, 1202.50 & 1206.60 with minor resistances at 1191 & 1207.50 & 1211.40.
The daily/weekly trend changer points are at 1229.40/1148.05.
Remember to watch the charts for the entry/exit signals and patience wins the game.
Get Gold Trading Chat, excerpts from there
In the dailies, a few of the early indicators are showing some indications the run lower are on its last legs.
If it still does not push through 1178 by the end of the week, then gold will bottom off here and head back to 1200.
On the other hand, even if it did crash through but not forcefully enough, then 1178 may act like an anchor and catapult it back higher like a bungee jumper.
Interim supports are at 1181.60, 1178 & 1168.70 with minor supports at 1178.60, 1168.70 & 1161.50
Interim resistances are at 1197, 1202.50 & 1206.60 with minor resistances at 1191 & 1207.50 & 1211.40.
The daily/weekly trend changer points are at 1229.40/1148.05.
Remember to watch the charts for the entry/exit signals and patience wins the game.
Get Gold Trading Chat, excerpts from there
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