In the daily charts, the short term directional indicators had almost crept into the overdone region but it didn't and only merely touched.
In fact, if gold somehow manages to hold the lows, a divergence will likely form off this run and gold may firm up into the new month and likely into the new year too.
The medium term trending indicators had attempted to cut and cross over to negative territory but it's still unconfirmed and if it refuses to yield, then it's a minor rebound may in order next.
The long term directional indicators remains poised in the current direction for now and is easily curtailed if gold goes back and closes above 1075.
The momentum/volatility indicators are staggering as gold's decline is temporarily halted and will quickly turn flaccid if it recovers back above 1080.
Interim supports are at 1053.50, 1040 & 1020.50 with minor supports at 1030.80, 1023.80 & 1019.50.
Interim resistances are at 1068, 1086 & 1091 with minor resistances at 1074.10, 1084.80 & 1123
The daily/weekly trend changer points are at 1086.70/1166.85.
Get Gold Trading Chat, excerpts from there
In fact, if gold somehow manages to hold the lows, a divergence will likely form off this run and gold may firm up into the new month and likely into the new year too.
The medium term trending indicators had attempted to cut and cross over to negative territory but it's still unconfirmed and if it refuses to yield, then it's a minor rebound may in order next.
The long term directional indicators remains poised in the current direction for now and is easily curtailed if gold goes back and closes above 1075.
The momentum/volatility indicators are staggering as gold's decline is temporarily halted and will quickly turn flaccid if it recovers back above 1080.
Interim supports are at 1053.50, 1040 & 1020.50 with minor supports at 1030.80, 1023.80 & 1019.50.
Interim resistances are at 1068, 1086 & 1091 with minor resistances at 1074.10, 1084.80 & 1123
The daily/weekly trend changer points are at 1086.70/1166.85.
Get Gold Trading Chat, excerpts from there
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