With gold below 1160 is spelling gloomy days for gold yet, in the short term, as both the dailies and weeklies are on the same side.
In the dailies, a pity there wasn't follow through selling so the momentum/volatility indicators have not reached frenzy levels yet.
All that is required in the dailies to alleviate the pressure is just to push it to 1165 and it looks a whole lot better.
The daily trend changer point has also been stealthily creeping lower at 1169.50 today.
Maybe the movers of the markets are just biding their time such that the daily trend changer point when it droops low enough, will not require too much effort to trigger and then enjoy the ride up.
Greece news might also cause some ripples.
Interim supports are at 1150.20, 1146 & 1121 with minor supports at 1144.60, 1132.80 & 1128.20.
Interim resistances are at 1160.70, 1173.30 & 1178.50 with minor resistances at 1157.20, 1166.50 & 1180.70.
The weekly trend changer point is at 1227.40.
Get Gold Trading Chat, excerpts from there
In the dailies, a pity there wasn't follow through selling so the momentum/volatility indicators have not reached frenzy levels yet.
All that is required in the dailies to alleviate the pressure is just to push it to 1165 and it looks a whole lot better.
The daily trend changer point has also been stealthily creeping lower at 1169.50 today.
Maybe the movers of the markets are just biding their time such that the daily trend changer point when it droops low enough, will not require too much effort to trigger and then enjoy the ride up.
Greece news might also cause some ripples.
Interim supports are at 1150.20, 1146 & 1121 with minor supports at 1144.60, 1132.80 & 1128.20.
Interim resistances are at 1160.70, 1173.30 & 1178.50 with minor resistances at 1157.20, 1166.50 & 1180.70.
The weekly trend changer point is at 1227.40.
Get Gold Trading Chat, excerpts from there
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