In the dailies, the short term directional indicators are coming into the over sold region now and reading on it's own, gold might test to 1118 before the end of the road.
The medium term trending indicators are gaily heading lower and no signs of trend fatigue and declines might extend for another 2 more weeks.
The longer term directional indicators have just been confirmed and would require considerable time (or dire news) to alleviate the current weakness.
In the weeklies, the short directional indicators has just come a quarter way down and so there is another three quarters of the length of it for coming lower.
The medium term trending indicators will begin threatening the parity line if gold remains below the 1130 at the week's closing.
The possible reading of the long term directional indicators possibly shows that ranges might have already been pre-set, that is, it might not overshoot this year's low as it is still trying to re-align it's sensitivity to the current market.
Interim supports are at 1126.50, 1107.50 & 1113 with minor supports at 1124.40, 1118 & 1103.50.
Interim resistances are at 1145, 1150 & 1152.50 with minor resistances at 1132, 1142.20 1157.
The daily/weekly trend changer points are at 1176.20/1101.50.
Get Gold Trading Chat, excerpts from there
The medium term trending indicators are gaily heading lower and no signs of trend fatigue and declines might extend for another 2 more weeks.
The longer term directional indicators have just been confirmed and would require considerable time (or dire news) to alleviate the current weakness.
In the weeklies, the short directional indicators has just come a quarter way down and so there is another three quarters of the length of it for coming lower.
The medium term trending indicators will begin threatening the parity line if gold remains below the 1130 at the week's closing.
The possible reading of the long term directional indicators possibly shows that ranges might have already been pre-set, that is, it might not overshoot this year's low as it is still trying to re-align it's sensitivity to the current market.
Interim supports are at 1126.50, 1107.50 & 1113 with minor supports at 1124.40, 1118 & 1103.50.
Interim resistances are at 1145, 1150 & 1152.50 with minor resistances at 1132, 1142.20 1157.
The daily/weekly trend changer points are at 1176.20/1101.50.
Get Gold Trading Chat, excerpts from there
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