The recent attempt northwards must have been one of the feeblest I have ever seen.
As it soon dribbled back lower despite conquering 1200 as it didn't manage to hold on to the gains and thereby also causing it's own downfall in one fell swoop.
If this was a comedy, then it will have been a classic slapstick.
With the momentum/volatility indicators in the walking dead zone - moving but not alive, if it doesn't get into gear soon, then the downside attempt will be limited, probably 1168 level is all we get.
Some of the quicker on the turn indicators are also almost near bottoming, soon.
If it did, then the downside is done for now, that is, if we don't crash through 1175 soon.
Interim supports are at 1176.20, 1170 & 1158 with minor supports at 1168.70, 1161.50 & 1144.60.
Interim resistances are at 1184.80, 1190.10, 1193.30 with minor resistances at 1180.70, 1185 & 1196.70.
The daily/weekly trend changer points are at 1168.70/1160.70.
Get Gold Trading Chat, excerpts from there
As it soon dribbled back lower despite conquering 1200 as it didn't manage to hold on to the gains and thereby also causing it's own downfall in one fell swoop.
If this was a comedy, then it will have been a classic slapstick.
With the momentum/volatility indicators in the walking dead zone - moving but not alive, if it doesn't get into gear soon, then the downside attempt will be limited, probably 1168 level is all we get.
Some of the quicker on the turn indicators are also almost near bottoming, soon.
If it did, then the downside is done for now, that is, if we don't crash through 1175 soon.
Interim supports are at 1176.20, 1170 & 1158 with minor supports at 1168.70, 1161.50 & 1144.60.
Interim resistances are at 1184.80, 1190.10, 1193.30 with minor resistances at 1180.70, 1185 & 1196.70.
The daily/weekly trend changer points are at 1168.70/1160.70.
Get Gold Trading Chat, excerpts from there
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