Duty called and I answered and so I had to travel abruptly at
the eleventh hour last week.
I will just be back a couple of days and I should
be away again latter half of the week.
Anyway, it is nice to see that gold
finally tasted the 1250 and came out on top.
It tested highs of around 1260
before easing a tad into the closing.
In the daily charts, the short term
directional indicators are poised nicely, just straddling at the overbought
zone and ready to make a dash higher and into the zone and hopefully, bringing
gold along for the ride.
The medium term trending indicators are looking mighty
fine with a little self-doubt setting in at the moment as it struggles to go
back to the highs.
It will more than likely be able to do just that but the
trick is to close near the highs, in order to gain new territory, like the 1260’s.
The long term directional indicators are looking uncluttered for now but
headway is met with the generated ceiling.
It has protruded over the ceiling
and now it must run like crazy, in order to bring about a new range into being.
The momentum/volatility indicators are uninspiring at the moment but are at
good levels where spurring it along is easily ushered.
The positive bias gap
contracted overnight but largely remains, highly positive for now.
Interim supports are at 1244.50, 1232.50 & 1225 with minor
supports at 1254.80, 1239.30 & 1228.
Interim resistances are at 1262.50, 1273.50 & 1290 with
minor resistances at 1268.30, 1277.30 & 1280.40.
The daily/weekly trend changer points are at 1233.15/1150.90.
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