Gold although looks pressured in the dailies, one of the medium term technicals, is starting to form a base of sorts should gold continue to hold steady, minimum 1195 or higher and must not see any new lows.
Then possibly we might have a mini recovery on our hands with a potential towards 1130 if successful.
Since it only just began, it will be flimsy for now but grows stronger each day it resist selling pressures and keep nearer to 1100 at each closing.
In the weeklies, the faster indicators are showing some early signs of trend exhaustion and will be further firmed up if no new lows are seen in the next month and if it coincides with the dailies at that time, then we may see gold recover to at least 1175.
Interim supports are at 1088, 1077.20 & 1074.50 with minor supports at 1070.40, 1030.80 & 1023.80.
Interim resistances are at 1098, 1109 & 1118 with minor resistances at 1123.20, 1132 & 1142.20.
The daily/weekly trend changer points are at 1124.65/1221.55.
Get Gold Trading Chat, excerpts from there
Then possibly we might have a mini recovery on our hands with a potential towards 1130 if successful.
Since it only just began, it will be flimsy for now but grows stronger each day it resist selling pressures and keep nearer to 1100 at each closing.
In the weeklies, the faster indicators are showing some early signs of trend exhaustion and will be further firmed up if no new lows are seen in the next month and if it coincides with the dailies at that time, then we may see gold recover to at least 1175.
Interim supports are at 1088, 1077.20 & 1074.50 with minor supports at 1070.40, 1030.80 & 1023.80.
Interim resistances are at 1098, 1109 & 1118 with minor resistances at 1123.20, 1132 & 1142.20.
The daily/weekly trend changer points are at 1124.65/1221.55.
Get Gold Trading Chat, excerpts from there
No comments:
Post a Comment