The weekly trend changer point which is at 1101.50 is almost within grasp from being triggered on this good run lower.
If that happened then the daily/monthly are already on the same side 1160/1190.70, gold will begin to feel really dense and crumble upon itself.
In the dailies, the short term directional indicator is oversold and dredging the bottom, maybe we will find a gem or two.
The medium term trending indicator has transversed 86% of the length of the previous rise.
With these 2 indicators thus, a push lower will be hard fought as they are technically low and may put on the brakes of this move, albeit for now, it remains under pressure for now.
The long term directional indicators have run about 50% of this move and will take fresh leads from the former 2 indicators mentioned.
In the weeklies, the short term directional indicators have given back 40% of the upmove.
The medium term trending indicators are below parity and so a bearish bias is seen but this is only confirmed if the week's ending are below 1115.
Interim supports are at 1102, 1098.50 & 1083 with minor supports at 1103.50, 1070.40 & 1030.80.
Interim resistances are at 1112.70, 1119.70 & 1129.50 with minor resistances at 1123.20, 1132 & 1142.20.
Get Gold Trading Chat, excerpts from there
p.s. Mib Agenti will be away and back next Wednesday 11th November 2015.
If that happened then the daily/monthly are already on the same side 1160/1190.70, gold will begin to feel really dense and crumble upon itself.
In the dailies, the short term directional indicator is oversold and dredging the bottom, maybe we will find a gem or two.
The medium term trending indicator has transversed 86% of the length of the previous rise.
With these 2 indicators thus, a push lower will be hard fought as they are technically low and may put on the brakes of this move, albeit for now, it remains under pressure for now.
The long term directional indicators have run about 50% of this move and will take fresh leads from the former 2 indicators mentioned.
In the weeklies, the short term directional indicators have given back 40% of the upmove.
The medium term trending indicators are below parity and so a bearish bias is seen but this is only confirmed if the week's ending are below 1115.
Interim supports are at 1102, 1098.50 & 1083 with minor supports at 1103.50, 1070.40 & 1030.80.
Interim resistances are at 1112.70, 1119.70 & 1129.50 with minor resistances at 1123.20, 1132 & 1142.20.
Get Gold Trading Chat, excerpts from there
p.s. Mib Agenti will be away and back next Wednesday 11th November 2015.
No comments:
Post a Comment