In the daily charts, the short term directional indicators are experiencing some friction at the higher end and receded somewhat but still maintains it's positive poise but drifting too low from 1070 might cause it to turn the other way.
The medium term trending indicator is at the parity line and merely tickling it. A move higher can only be anticipated if it pulls above it convincingly.
The long term directional indicator is in a lull state and the momentum/volatility indicator are at really low levels and the hum can barely be heard.
In the weekly charts, the short term directional indicator has only begun on the upswing while the medium term trending indicator has become unstuck as gold is below 1075. The long term directional indicators still looks soft.
The momentum/volatility indicators is dredging the bottom.
Interim supports are at 1067.50, 1051.50 & 1048 with minor supports at 1030.80, 1023.80 & 1023.80.
Interim resistances are at 1083, 1119.50 & 1128.50 with minor resistances at 1074.10, 1084.80 & 1123.20.
The daily/weekly trend changer points are at 1085.50/1134.10.
Get Gold Trading Chat, excerpts from there
The medium term trending indicator is at the parity line and merely tickling it. A move higher can only be anticipated if it pulls above it convincingly.
The long term directional indicator is in a lull state and the momentum/volatility indicator are at really low levels and the hum can barely be heard.
In the weekly charts, the short term directional indicator has only begun on the upswing while the medium term trending indicator has become unstuck as gold is below 1075. The long term directional indicators still looks soft.
The momentum/volatility indicators is dredging the bottom.
Interim supports are at 1067.50, 1051.50 & 1048 with minor supports at 1030.80, 1023.80 & 1023.80.
Interim resistances are at 1083, 1119.50 & 1128.50 with minor resistances at 1074.10, 1084.80 & 1123.20.
The daily/weekly trend changer points are at 1085.50/1134.10.
Get Gold Trading Chat, excerpts from there
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