In the daily charts, the short term directional indicators have
managed to pull towards the 45% level now.
Having done that, it should be
taking advantage of the recovery in the indicator and hopefully push a little
higher towards 1300.
It is wasteful to be looking gorgeous but turns out to be
a dud.
The medium term trending indicators are trying really hard to muscle
back into the positive territory.
It is on the verge of doing just that but
needs gold to be closing at least 1285 before it’s confirmed.
The long term
directional indicators are looking none the better than it did last week and it
will probably remain anaemic for another week or so as it awaits news to revitalize
and new ranges might be seen after that.
The momentum/volatility indicators
while at ultra low levels, remain borderline positive as the jaws of fortune are
widening a little.
Interim supports are at 1271.50, 1262.50 & 1258 with
minor supports at 1270.60, 1267.20 &1256.50.
Interim resistances are at 1284, 1291 & 1301.50 with
minor resistances at 1277.30, 1291.40 & 1305.90.
The daily/weekly trend changer points are at 1262.65/1233.40.
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