In the daily, the short term directional indicator looks a tad more positive and about two thirds done and likely to propel it higher.
The medium term trending indicators are testing parity.
If we somehow managed to push above there, the whole mood changes totally and we maybe in for a more merry mood going into the year's closing.
The long term directional indicators have gone into a comatose and will take some more time before it is able to sort itself out and a new directional discerned. In the weekly charts, the short term directional indicators are poised nicely and lifting off the lows and reached about 40% and still more room to ascend.
The medium term trending indicators with gold above 1175 at the week's ending, portends to more firmness going into next week.
The long term directional indicators remains negative and would take a herculean effort cancel it, let alone, turn it positive.
The momentum/volatility indicators for the daily/weekly are both at low levels and unlikely to be zooming anywhere anytime soon.
Interim supports are at 1068.40, 1051.20 & 1043.90 and minor supports at 1070.40, 1030.80 & 1023.80.
Interim resistances are at 1084, 1120.70 & 1128.80 with minor resistances at 1084.80, 1123.20 & 1132.
The daily/weekly trend changer point is at 1086.30/1134.10.
Get Gold Trading Chat, excerpts from there
The medium term trending indicators are testing parity.
If we somehow managed to push above there, the whole mood changes totally and we maybe in for a more merry mood going into the year's closing.
The long term directional indicators have gone into a comatose and will take some more time before it is able to sort itself out and a new directional discerned. In the weekly charts, the short term directional indicators are poised nicely and lifting off the lows and reached about 40% and still more room to ascend.
The medium term trending indicators with gold above 1175 at the week's ending, portends to more firmness going into next week.
The long term directional indicators remains negative and would take a herculean effort cancel it, let alone, turn it positive.
The momentum/volatility indicators for the daily/weekly are both at low levels and unlikely to be zooming anywhere anytime soon.
Interim supports are at 1068.40, 1051.20 & 1043.90 and minor supports at 1070.40, 1030.80 & 1023.80.
Interim resistances are at 1084, 1120.70 & 1128.80 with minor resistances at 1084.80, 1123.20 & 1132.
The daily/weekly trend changer point is at 1086.30/1134.10.
Get Gold Trading Chat, excerpts from there
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