Gold was repelled northwards as the Chinese equity tanked at the start of their trading session to pierce the long forgotten 1100's but pulled back in the London session.
In the daily charts, the short term directional indicators are still poised nicely up and reached the 65% mark and maybe have 2 to 3 sessions more before hitting the overbought zone.
The medium term trending indicator has lifted nicely off the parity line and if it so decides to push higher, will be able to do so with ease.
Finally the long term directional indicator has just crossed over with a slight upward bias and hopefully it is able to make something out of it and not be a false start and result in signal failure.
In the weekly charts, the short term directional indicators continues now on an upward path and still near to the 60% mark with more room to explore.
The medium term trending indicator is generating a strong signal and freshly coming out of a tailspin and could spell a good and slightly prolonged move higher, that is, if that is the way the market wants to push it.
The longer term directional indicators has finally cancelled the soft signal it was earlier generating and it will be a long while more before a new direction is founded.
The momentum/volatility indicators in both the daily is showing more promise of having sufficient oomph to really have a good shot at turning the current move into a run.
Interim supports are at 1082.50, 1075.50 & 1052 with minor supports at 1070.40, 1030.80 & 1023.80.
Interim resistances are at 1099, 1112 & 1118.50 with minor resistances at 1123.20, 1132 & 1142.20.
The daily/weekly trend changer points are at 1050.50/1117.30.
Get Gold Trading Chat, excerpts from there
In the daily charts, the short term directional indicators are still poised nicely up and reached the 65% mark and maybe have 2 to 3 sessions more before hitting the overbought zone.
The medium term trending indicator has lifted nicely off the parity line and if it so decides to push higher, will be able to do so with ease.
Finally the long term directional indicator has just crossed over with a slight upward bias and hopefully it is able to make something out of it and not be a false start and result in signal failure.
In the weekly charts, the short term directional indicators continues now on an upward path and still near to the 60% mark with more room to explore.
The medium term trending indicator is generating a strong signal and freshly coming out of a tailspin and could spell a good and slightly prolonged move higher, that is, if that is the way the market wants to push it.
The longer term directional indicators has finally cancelled the soft signal it was earlier generating and it will be a long while more before a new direction is founded.
The momentum/volatility indicators in both the daily is showing more promise of having sufficient oomph to really have a good shot at turning the current move into a run.
Interim supports are at 1082.50, 1075.50 & 1052 with minor supports at 1070.40, 1030.80 & 1023.80.
Interim resistances are at 1099, 1112 & 1118.50 with minor resistances at 1123.20, 1132 & 1142.20.
The daily/weekly trend changer points are at 1050.50/1117.30.
Get Gold Trading Chat, excerpts from there
No comments:
Post a Comment