Finally gold decided to show what it is made of.
In one fell
swoop, it just leapt to test above 1242.
My charts are static, copied out from
reuters 6 hours ago so those are irrelevant now.
With less than ideal web
charts, I will endeavour anyway with whatever resources is available.
In the
daily charts, the short term directional indicators have risen higher and
almost touching the 48% mark.
The medium term trending indicators confirmation
has deepened and pulling towards the parity line and looks good to continue
heading there for now.
The long term directional indicators have been negated
with gold above 1230 but, will it still be above that at the closing as that
will confirm the negation, or not.
The
momentum/volatility indicators is sadly something is not available on web based
charts but soft bias would likely now be almost compromised or already
compromised if gold manage to close above 1240.
Interim supports are at 1238, 1228 & 1217.50 with minor
supports at 1239.30, 1226.10 & 1215.
Interim resistances are at 1248.50, 1255 & 1293 with
minor resistances at 1251.70, 1268.30 & 1272.70.
The daily trend changer point was initially at 1236.60 was
triggered earlier and where it is now, I can’t confirm.
The weekly trend
changer point is at 1303.60.
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