In the daily charts, the short term directional indicators have just surpassed the 50% mark and if it wishes to push higher, it can do so till the middle of next week at the least before it hits the overbought zone.
In the medium term trending indicators has firmly lifted off the parity line and hopefully it is able to make good and have a good run, which is long overdue.
The long term directional indicators is on the verge of giving confirmation that it might remain firmer for the longer duration and reached the 60% level now.
The medium term trending indicators have cut up nicely and if the market was driven by just this one indicator, then we could be looking at 1250 before it starts looking toppish but that's a big assumption.
The long term directional indicators with the negative bias, is so close to have it negated.
If that happened, would firmly seal the recent low for a considerable period of time, maybe as long as 6 months.
Interim supports are at 1085.50, 1080 & 1074 with minor supports at 1070.40, 1030.80 & 1023.80.
Interim resistances are at 1093.50, 1109.50 & 1117.50 with minor resistances at 1123.20, 1132 & 1142.20.
The momentum/volatility in the daily/weekly are both still at low levels but with gold moving up nicely, hopefully it turns up the heat a little so that the market gets fired up.
The daily/weekly trend changer points are at 1048.65/1117.30.
Get Gold Trading Chat, excerpts from there
In the medium term trending indicators has firmly lifted off the parity line and hopefully it is able to make good and have a good run, which is long overdue.
The long term directional indicators is on the verge of giving confirmation that it might remain firmer for the longer duration and reached the 60% level now.
The medium term trending indicators have cut up nicely and if the market was driven by just this one indicator, then we could be looking at 1250 before it starts looking toppish but that's a big assumption.
The long term directional indicators with the negative bias, is so close to have it negated.
If that happened, would firmly seal the recent low for a considerable period of time, maybe as long as 6 months.
Interim supports are at 1085.50, 1080 & 1074 with minor supports at 1070.40, 1030.80 & 1023.80.
Interim resistances are at 1093.50, 1109.50 & 1117.50 with minor resistances at 1123.20, 1132 & 1142.20.
The momentum/volatility in the daily/weekly are both still at low levels but with gold moving up nicely, hopefully it turns up the heat a little so that the market gets fired up.
The daily/weekly trend changer points are at 1048.65/1117.30.
Get Gold Trading Chat, excerpts from there
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