Feeling a little dusty behind the ears after having been
away for so long now but it’s nice to be back despite just being for 2 days
before hitting the road again and likely for another 3 weeks.
I must admit that
the Brexit did influence gold quite a fair bit and likely more so in the coming
weeks especially if any other bad news shakes the markets.
In the daily charts, the short term directional indicators are just 2
days away from poking into the overbought region with it just near to the 75%
mark now.
The medium term trending indicators are pushing well ahead and must
surpass the previous peak (in the technical) achieved in February or else a
massive divergence will be formed on its failure.
The long term directional
indicators are maintaining a nice gradient upwards and may keep gold steady and
thereby inching higher gradually.
The momentum/volatility indicators are
certainly not dull at the moment and have sufficient zip in it for gold to
really start running higher.
Maybe a new trigger needs to be found and it might
just pop it above 1400 soon.
Interim supports are at 1321.50, 1311.50 & 1302.50 with
minor supports at 1345, 1314 & 1303.
Interim resistances are at 1358, 1375 & 1413 with minor
resistances at 1377, 1382.50 & 1410.
The daily/weekly trend changer points are at
1259.45/1214.15.
No comments:
Post a Comment