We are getting an overdose of Greece news this past week.
Whichever way you look at it, it has defaulted.
However it is strange how creative we can get.
It has obviously flat-lined but we are not calling it as such and in fact, maybe now CPR is being done and put on life support?
Due to the dailies being unable to capture strategic resistance levels when it had some medium term indicators in its favour, has now "doomed" itself to stew in its own juices at the bottom of the pot.
A bunch of the indicators continue indicating softness but the momentum/volatility indicator's engine is still cold.
So it may not be a running away even if critical levels are breached unless catalysts are introduced.
Interim supports are at 1163.50, 1161.80 & 1156 and minor supports are at 1164.30, 1161.50 & 1144.60.
Interim resistances are at 1176.80, 1179 & 1184.30 with minor resistances at 1180.70, 1191 & 1196.70.
The daily/weekly trend changer points are at 1199.90/1163.50 with the latter being threatened.
Get Gold Trading Chat, excerpts from there
Whichever way you look at it, it has defaulted.
However it is strange how creative we can get.
It has obviously flat-lined but we are not calling it as such and in fact, maybe now CPR is being done and put on life support?
Due to the dailies being unable to capture strategic resistance levels when it had some medium term indicators in its favour, has now "doomed" itself to stew in its own juices at the bottom of the pot.
A bunch of the indicators continue indicating softness but the momentum/volatility indicator's engine is still cold.
So it may not be a running away even if critical levels are breached unless catalysts are introduced.
Interim supports are at 1163.50, 1161.80 & 1156 and minor supports are at 1164.30, 1161.50 & 1144.60.
Interim resistances are at 1176.80, 1179 & 1184.30 with minor resistances at 1180.70, 1191 & 1196.70.
The daily/weekly trend changer points are at 1199.90/1163.50 with the latter being threatened.
Get Gold Trading Chat, excerpts from there
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