Gold continues to be in Cloud 9 for some more time.
The indicators have gone into a kissing zone rather than a killing zone, crisscrossing each other at every turn and well meshed together unable to break the status quo.
The missing ingredient in recent sessions were, sufficient and slightly more sustained momentum/volatility which could tip the ranges to be wider with more height or depth.
The danger of current conditions is, one gets lulled into false comfort and that's when it goes into a killing zone
Gold needs just to pull and close above 1200 in order to see some challenges of upper boundaries around 1210 but if it stays below it by end of the week, will set a softer tone for beginning of the week.
Interim supports are at 1190, 1182.40 & 1170 with the minors at 1178.60, 1168.70 & 1161.50.
Interim resistances are at 1198.60, 1207.50 & 1214 with the minors at 1196.70, 1208 & 1218.50.
The daily/weekly trend changer points are at 1212.40/1215.
Mib will be away the next 2 days so likely there will not be any updates.
https://play.google.com/store/apps/details?id=com.gold.trading.chat
The indicators have gone into a kissing zone rather than a killing zone, crisscrossing each other at every turn and well meshed together unable to break the status quo.
The missing ingredient in recent sessions were, sufficient and slightly more sustained momentum/volatility which could tip the ranges to be wider with more height or depth.
The danger of current conditions is, one gets lulled into false comfort and that's when it goes into a killing zone
Gold needs just to pull and close above 1200 in order to see some challenges of upper boundaries around 1210 but if it stays below it by end of the week, will set a softer tone for beginning of the week.
Interim supports are at 1190, 1182.40 & 1170 with the minors at 1178.60, 1168.70 & 1161.50.
Interim resistances are at 1198.60, 1207.50 & 1214 with the minors at 1196.70, 1208 & 1218.50.
The daily/weekly trend changer points are at 1212.40/1215.
Mib will be away the next 2 days so likely there will not be any updates.
https://play.google.com/store/apps/details?id=com.gold.trading.chat
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