In the dailies, the trending indicator is still southwards pushing, with no signs of abatement yet.
The real-time prices have come nicely off the lows and in the process, permitted a bunch of the other indicators that were in the overdone position, some time to realign itself into a neutral zone in case there was another round of bashing ahead, it will be having sufficient height to do more damage.
Capturing and closing above 1165 today will be essential as one of the medium term indicators will have confirmed it's intention and we may get lucky and see gold test back to at least 1190.
Interim supports are at 1158, 1153.20 & 1146 with minor supports at 1144.60, 1132.80 & 1130.60
Interim resistances are at 1164.50, 1175.50 & 1191 with minor resistances at 1168.30, 1177.15 & 1183.50.
The daily/weekly trend changer points are at 1176.15/1230.70.
Note. the daily point is coming into contention.
Get Gold Trading Chat, excerpts from there
The real-time prices have come nicely off the lows and in the process, permitted a bunch of the other indicators that were in the overdone position, some time to realign itself into a neutral zone in case there was another round of bashing ahead, it will be having sufficient height to do more damage.
Capturing and closing above 1165 today will be essential as one of the medium term indicators will have confirmed it's intention and we may get lucky and see gold test back to at least 1190.
Interim supports are at 1158, 1153.20 & 1146 with minor supports at 1144.60, 1132.80 & 1130.60
Interim resistances are at 1164.50, 1175.50 & 1191 with minor resistances at 1168.30, 1177.15 & 1183.50.
The daily/weekly trend changer points are at 1176.15/1230.70.
Note. the daily point is coming into contention.
Get Gold Trading Chat, excerpts from there
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