Any whispers from the Feds easily stirs the market.
Just one word the market came up and another word the market is pressured.
If only if they whispered first to my ear before others, would be very enRICHing indeed.
Gold made a nice high yesterday but was quickly unravelled.
In the dailies, the short term directional indicators did a mid air acrobatic maneuver and turned higher.
However with prices at current levels causes the indicators to crest the apex of this move, makes one nervous to be holding long around here.
The medium term trending indicator remains undaunted for now with the longer term directional indicator having the chance to come into contention.
All that is required is to close above 1150 by next Wednesday.
The medium-long directional indicator confirmed and is usually good for at least 2 weeks.
So even if it doesn't go higher, gold will likely remain on the firmer side for a little while.
In the weeklies, the short term directional indicators managed to nullify the earlier weakness and righted itself.
The medium term trending indicator looks nicer than 2 days back and have a good chance to attempt the zero line in about 3 weeks time to go back into positive territory.
The longer term directional indicator is still sorting itself out and will unlikely lead the market any time soon.
However, the momentum/volatility indicators did revved up 2 notches, it still needs to revved up by another notch and half to really get it moving.
Interim supports are at 1140.50, 1134.50 & 1131 with minor supports at 1132.80, 1128.20 & 1118.
Interim resistances are at 1158, 1161 & 1172 with minor resistances at 1157, 1166.50 & 1177.
The daily/weekly trend changer points are at 1108.50/1077. The weekly point was triggered yesterday so the market looks supported at the moment and hopefully we make our way higher. A closing above 1150 tonight is crucial if not, we start next week looking softer.
Get Gold Trading Chat, excerpts from there
Just one word the market came up and another word the market is pressured.
If only if they whispered first to my ear before others, would be very enRICHing indeed.
Gold made a nice high yesterday but was quickly unravelled.
In the dailies, the short term directional indicators did a mid air acrobatic maneuver and turned higher.
However with prices at current levels causes the indicators to crest the apex of this move, makes one nervous to be holding long around here.
The medium term trending indicator remains undaunted for now with the longer term directional indicator having the chance to come into contention.
All that is required is to close above 1150 by next Wednesday.
The medium-long directional indicator confirmed and is usually good for at least 2 weeks.
So even if it doesn't go higher, gold will likely remain on the firmer side for a little while.
In the weeklies, the short term directional indicators managed to nullify the earlier weakness and righted itself.
The medium term trending indicator looks nicer than 2 days back and have a good chance to attempt the zero line in about 3 weeks time to go back into positive territory.
The longer term directional indicator is still sorting itself out and will unlikely lead the market any time soon.
However, the momentum/volatility indicators did revved up 2 notches, it still needs to revved up by another notch and half to really get it moving.
Interim supports are at 1140.50, 1134.50 & 1131 with minor supports at 1132.80, 1128.20 & 1118.
Interim resistances are at 1158, 1161 & 1172 with minor resistances at 1157, 1166.50 & 1177.
The daily/weekly trend changer points are at 1108.50/1077. The weekly point was triggered yesterday so the market looks supported at the moment and hopefully we make our way higher. A closing above 1150 tonight is crucial if not, we start next week looking softer.
Get Gold Trading Chat, excerpts from there
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