The "hazards" of having a large region to look after means, being out of office a lot of the time and hence, the infrequent updates recently.
In the daily charts, the short term directional indicators had previously skimmed the over bought zone but didn't make headway into the region and came off just as abruptly.
It has retraced back to the 40% level and with the gold holding above 1090's, might induce a turning back higher, especially if we push back above the 1100's.
The medium term trending indicator had also turned sharply lower but is now holding it's own and also showing the same signs as the former.
The long term directional indicators earlier bias has now been negated and maybe a week or two before any new direction becomes visible.
The momentum/volatility indicator has almost dropped to zero with faint bleeps every now to remind us that it has not died.
Interim supports are at 1086, 1078 & 1073.50 with minor supports at 1070.40, 1030.80 & 1023.80.
Interim resistances are at 1093, 1107 & 1118 with minor resistances at 1123.20, 1132 & 1142.20.
The daily/weekly trend changer point are at 1071/1112.
Get Gold Trading Chat, excerpts from there
In the daily charts, the short term directional indicators had previously skimmed the over bought zone but didn't make headway into the region and came off just as abruptly.
It has retraced back to the 40% level and with the gold holding above 1090's, might induce a turning back higher, especially if we push back above the 1100's.
The medium term trending indicator had also turned sharply lower but is now holding it's own and also showing the same signs as the former.
The long term directional indicators earlier bias has now been negated and maybe a week or two before any new direction becomes visible.
The momentum/volatility indicator has almost dropped to zero with faint bleeps every now to remind us that it has not died.
Interim supports are at 1086, 1078 & 1073.50 with minor supports at 1070.40, 1030.80 & 1023.80.
Interim resistances are at 1093, 1107 & 1118 with minor resistances at 1123.20, 1132 & 1142.20.
The daily/weekly trend changer point are at 1071/1112.
Get Gold Trading Chat, excerpts from there
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