There is a medium term trending indicator in the daily just passed the mid level but gold has to close above 1202 if it were to make use of it.
The same indicator in the weekly has turned back into looking positive.
The momentum/volatility indicator has risen a little but not enough to spur the market into a frenzy yet.
It will be bad if it stalls as gold would be pressured next week.
A bunch of the shorter term indicators are peaking and if no new highs are made, then we might start next week on a crook it will be weighed down by its own mass.
Interim supports are at 1197.40, 1189.80 & 1184.30 with minor supports at 1178.60, 1168.70 & 1161.50.
Interim resistances are at 1205.50, 1221.60 & 1228.20 with minor resistances at 1207.50, 1210.20 & 1218.50.
The daily/weekly trend changer points are at 1165.60/1157.70.
Get Gold Trading Chat, excerpts from there
The same indicator in the weekly has turned back into looking positive.
The momentum/volatility indicator has risen a little but not enough to spur the market into a frenzy yet.
It will be bad if it stalls as gold would be pressured next week.
A bunch of the shorter term indicators are peaking and if no new highs are made, then we might start next week on a crook it will be weighed down by its own mass.
Interim supports are at 1197.40, 1189.80 & 1184.30 with minor supports at 1178.60, 1168.70 & 1161.50.
Interim resistances are at 1205.50, 1221.60 & 1228.20 with minor resistances at 1207.50, 1210.20 & 1218.50.
The daily/weekly trend changer points are at 1165.60/1157.70.
Get Gold Trading Chat, excerpts from there
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