Gold is reacting to every news snippet that might be in vogue at the moment.
However with the Greek issue on hand, seems to cause everybody to be sitting on edge and see who is quicker on the draw.
Faster does not necessarily mean the winner.
When the market opened in Asia, it was nearer 1180 and it didn't look so pressured but with it just treading the 1170, looks really vulnerable.
However it might not make any headway southwards as it is only looking soft and may not have substance behind it.
I am not sure if it is thankfully or unluckily, that the momentum/volatility indicators are still maintaining their poker face and anything you throw at it right now, will just slide off.
Having such a flimsy stance, it maybe more profitable to try range trading especially when it's near crucial levels.
Interim supports are at 1162.20, 1157.50 & 1134.60 with minor supports at 1168.70, 1161.50 & 1144.60.
Interim resistances are at 1179, 1182.50 & 1185.50 with minor resistances at 1177.20, 1180.70 & 1191.
The daily/weekly trend changer points are at 1202/1163.50 - 1163.50 might be targeted so as to have daily/weekly points in negative position.
Get Gold Trading Chat, excerpts from there
However with the Greek issue on hand, seems to cause everybody to be sitting on edge and see who is quicker on the draw.
Faster does not necessarily mean the winner.
When the market opened in Asia, it was nearer 1180 and it didn't look so pressured but with it just treading the 1170, looks really vulnerable.
However it might not make any headway southwards as it is only looking soft and may not have substance behind it.
I am not sure if it is thankfully or unluckily, that the momentum/volatility indicators are still maintaining their poker face and anything you throw at it right now, will just slide off.
Having such a flimsy stance, it maybe more profitable to try range trading especially when it's near crucial levels.
Interim supports are at 1162.20, 1157.50 & 1134.60 with minor supports at 1168.70, 1161.50 & 1144.60.
Interim resistances are at 1179, 1182.50 & 1185.50 with minor resistances at 1177.20, 1180.70 & 1191.
The daily/weekly trend changer points are at 1202/1163.50 - 1163.50 might be targeted so as to have daily/weekly points in negative position.
Get Gold Trading Chat, excerpts from there
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