A pity gold missed closing above 1190 or else we might have pushed above 1200 by now.
The US jobless claims data was almost unchanged from the previous week and a cause for the celebratory mood as funds jump back to piling in the US dollar and equities as well.
In the dailies, the technicals are still at the lower end and has room to run higher if it decided to do that.
It has also not played out the divergence to it's full effect either.
The medium/longer term indicator pointing lower was not negated and come back into play but a lack of momentum/volatility might cause it to end abruptly.
Interim supports are at 1176.60, 1167.20 & 1160 with minor supports at 1178.60, 1268.50 & 1161.50.
Interim resistances are at 1182.20, 1190.20 & 1195.50 with minor resistances at 1184.50, 1196.70 & 1207.50.
The daily/weekly trend change point is at 1192.10/1154.60.
Get Gold Trading Chat, excerpts from there
The US jobless claims data was almost unchanged from the previous week and a cause for the celebratory mood as funds jump back to piling in the US dollar and equities as well.
In the dailies, the technicals are still at the lower end and has room to run higher if it decided to do that.
It has also not played out the divergence to it's full effect either.
The medium/longer term indicator pointing lower was not negated and come back into play but a lack of momentum/volatility might cause it to end abruptly.
Interim supports are at 1176.60, 1167.20 & 1160 with minor supports at 1178.60, 1268.50 & 1161.50.
Interim resistances are at 1182.20, 1190.20 & 1195.50 with minor resistances at 1184.50, 1196.70 & 1207.50.
The daily/weekly trend change point is at 1192.10/1154.60.
Get Gold Trading Chat, excerpts from there
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