6 JUNE 2016 (personal notes)
Congrats to the profiteers last Friday.
Weekly: Most of the readings are still bearish, understandably as weekly trend will definitely not be diminished in a night's move. The early just-about-to-sprout momentum to the downside, however, has now been eased. Unless there is a big kick-ass mantra/spelss coming out of the Fed's almighty Queen. (Note: Gold has been dragged by the movement of USD these days). Weekly range (bottom: 119x-120x. Top: 130x-131x)
Daily: Readings have shown bottoming out, curving up last Friday, opening room to the upside. NFP's release took advantage of it to bounce spring-jump higher. Close 1244 was so much so that DMI switched side to the green line. However, there s DMA-50 & DMA-34 waiting there guarding the gate. Daily should not be challenged by at least 70% of it. coz if it is (touch 1220). then the threads would nod their head pointint down again. Note that Daily PSAR was hit on NFP night quite abusively. Note: This phenomenon recalled my traumas at 16-17 March 2016, and 1-2May2016. A closing higher than 1244 (preferrably above 125x) if gold is not phoned by the bears soon. The effort to do that may hinge upon what NY brings tonight with the almighty fed queenlady bringing on her holy speech.
Daily range (bottom : 120x, Top : 125x-1260)
Intraday is showing losing momentum of the bulls. It is not bearish yet though morning asian session showed profit-taking-like moves. If it is not making any higher highs in the hourly candles, then the bullish momentum can easily be drown. Some of the readings have shown turning from the top, but remember, during a trend (which must be maintained by making higher highs and lower lows), should not be emphasised. Intraday Pivot is at 1232. where s immediate resistance is at 1257 (pretty far away and close to the daily top range).
Weekly: Most of the readings are still bearish, understandably as weekly trend will definitely not be diminished in a night's move. The early just-about-to-sprout momentum to the downside, however, has now been eased. Unless there is a big kick-ass mantra/spelss coming out of the Fed's almighty Queen. (Note: Gold has been dragged by the movement of USD these days). Weekly range (bottom: 119x-120x. Top: 130x-131x)
Daily: Readings have shown bottoming out, curving up last Friday, opening room to the upside. NFP's release took advantage of it to bounce spring-jump higher. Close 1244 was so much so that DMI switched side to the green line. However, there s DMA-50 & DMA-34 waiting there guarding the gate. Daily should not be challenged by at least 70% of it. coz if it is (touch 1220). then the threads would nod their head pointint down again. Note that Daily PSAR was hit on NFP night quite abusively. Note: This phenomenon recalled my traumas at 16-17 March 2016, and 1-2May2016. A closing higher than 1244 (preferrably above 125x) if gold is not phoned by the bears soon. The effort to do that may hinge upon what NY brings tonight with the almighty fed queenlady bringing on her holy speech.
Daily range (bottom : 120x, Top : 125x-1260)
Intraday is showing losing momentum of the bulls. It is not bearish yet though morning asian session showed profit-taking-like moves. If it is not making any higher highs in the hourly candles, then the bullish momentum can easily be drown. Some of the readings have shown turning from the top, but remember, during a trend (which must be maintained by making higher highs and lower lows), should not be emphasised. Intraday Pivot is at 1232. where s immediate resistance is at 1257 (pretty far away and close to the daily top range).
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.