Gold Trends (30 Apr 2015) - Updates of Mib Agenti

What a fantastic move gold has had since the NY opening bell. It has been a one way ticket lower so far after the uneventful and of late, repetitive FOMC announcements. 

As much as I had feared it, in the dailies and the weeklies, we have entered into a "kissing" period and direction remains jittery at best, as the indicators keep crisscrossing each other at every turn. 

With a drought of earth shaking news, gold is trapped in a range. That is until, the momentum/volatility indicators reach sufficient sustainable levels and, we might see a breakthrough then. 

With this move lower, gold again looks pressured and hopefully we see a new low this round - at least 1160.

Interim supports are at 1174.40, 1154.20 & 1138.70 with minor supports at 1168.70, 1161.50 & 1144.60.

Interim resistances at 1185.60, 1190.20 & 1197.70 with minors at 1185, 1191 & 1196.65.

The daily/weekly trend changer points are at 1176.30/1216 with the daily almost being triggered earlier.

To all my friends in the commonwealth nations, a Happy Labour Day.

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Gold Trends (29 Apr 2015) - Updates of Mib Agenti

Gold's next move hinges solely on the outcome of the FOMC decision, either it opens "big" or "small".

Quite a number of punters have already cast their die, that is, betting on moves higher, and the reason gold broke away from its wurthering lowness and climbed to a loftier perch.

In both the dailies and weeklies, most of the indicators have turned mildly positive but the very low momentum/volatility indicators might lessen the chances of more upside or downside until those build up to a forceful level.

Otherwise, moves towards either direction will be futile - like a dry run, that doesn't culminate into the actual event/meaningful.

With that thought, I might just do a counter-trend trade especially if it pokes nearer to 1220 but will be quick to cut in case it went wrong.

Interim supports are at 1200, 1190 & 1185.50 with minor supports at 1208.80, 1204.70 & 1200.10.

Interim resistances at 1217, 1226.60 & 1228.80 with minors at 1218.50, 1221.70 & 1238.

The daily/weekly trend changers points at 1175.50/1216.

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Gold Trends (28 Apr 2015) - Updates of Mib Agenti

Let's all stand and give a 5 minute rousing applause for gold's performance today.

Not only has it propelled higher, it had managed to take out the daily trend changer point at 1212.40 and the weekly point sitting just at 1216, which acts like a magnet.

In fact, we should demand/expect an encore performance and hopefully, be seeing 1238 really soon.

With such a fantastic performance today without an encore, is totally anti-climatic.

However, due to insufficient momentum/volatility so far, it is doubtable if we will be seeing too high.

Having expended so much effort, albeit cheaply (please see earlier posts), it is really wasteful not to see it higher.

Interim supports are at 1198, 1195 & 1189.80 with minor supports at 1208.80, 1204.70 & 1200.10.

Interim resistance are at 1216, 1228 & 1239 with minor resistances at 1218.50, 1221.70 & 1238.

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Gold Trends (27 Apr 2015) - Updates of Mib Agenti

Due to the very low momentum/volatility indicators, gold managed to claw back all that it gave last Friday. 

It really is an amazing feat and the amount of resources required to do that, is not little. 

This renewed strength is largely due to the upcoming FOMC as traders predict delayed action on the part of the Feds in raising rates, and, coinciding with the Greek issue is definitely cause to hedge the uncertainty. 

I only wish it just wouldn't stop here, as recent ranges have been uninspiring, and unable to break out at either end.

Both the dailies/weeklies are poised for lower but the upmove has skewered the dailies for now and may cause the dailies to go into a "kissing" zone, i.e., until a new direction is "decided".

Interim supports are at 1194, 1190 & 1188 with minor supports at 1178.60, 1168.70 & 1161.50.

Interim resistances at 1209, 1212 & 1222.50 with minors at 1207.50, 1218.50 & 1221.70.

The daily/weekly trend changer points at 1214.90/1216.

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Gold Trends (24 Apr 2015) - Updates of Mib Agenti

At long last, gold has finally thrashed the 1180 psychological level.

However, what it makes of it is still open to "suggestion".

With the price where it is now and if it closes sub 1180, then the weeklies will also look pressured and next week should see gold extend further losses.

However if it somehow manages to claw back the losses and closes nearer the 1190's , then this move lower is a wasted endeavour.

The momentum/volatility in the daily & weekly are still not building up sufficiently and hopefully over the course of next week it does improve, we may then get to see at least till 1140's as most of the other indicators in the daily/weekly will then be pressurising.

Interim supports are at 115, 1138.50 & 1126 with minor supports at 1168.70, 1161.50 & 1144.60.

Interim resistances at 1185, 1192.40 & 1200 with minors at 1183.50, 1191 & 1207.50.

The daily/weekly trend changer points are at 1217.40/1224.10.

Keep your eyes on the charts and track the momentum.

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Gold Trends (23 Apr 2015) - Updates of Mib Agenti

Finally, we have a slightly extended range on the lower end.

However, are we going anywhere with it?

That, I am not too sure at all but I remain hopeful - at least the technicals are veering lower so higher probability for that happening.

However, the Momentum/Volatility indicators in both the daily and weekly are but a faint bleep. If it was any quieter, it would have probably flat lined.

So maybe what is missing, is a dash of some good news.

Interim supports are at 1184.50, 1181 & 1155 with minor supports at 1178.60, 1168.70 & 1161.50.

Interim resistances at 1195, 1199 & 1210 with minors at 1207.50, 1218.50 & 1221.70.

The daily/weekly trend changer points are at 1218.80/1224.10.

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Gold Trends (22 Apr 2015) - Updates of Mib Agenti

Gold is stubbornly clinging on, as near to 1205 as possible. Probably in an effort to make the charts look "positive" without costing to much to do so.

If kept here sufficiently long enough, say another week or so, then, in all likelihood, the charts would have started looking "positive".

Kudos to the excellent and cheap plan. The only issue is, nobody should have a trigger finger and work the market up into a selling frenzy by pushing it to test and break crucial levels.

Otherwise the low volatility and momentum seen this past 2 weeks is keeping the market capped at both ends.

Interim supports are at 1191.70, 1184.50 & 1156.50 with minor supports at 1178.60, 1168.70 & 1161.50.

Interim resistances at 1202.50, 1211 & 1216 with minors at 1207.50, 1218.50 & 1221.70.

The daily/weekly trend changer points are at 1219.50/1224.10.

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Gold Trends (21 Apr 2015) - Updates of Mib Agenti

I have been looking at the charts and very likely tonight can be a decider and all hinges on where gold closes later.

Though it appears resilient, that is, it still trying to keep it looking not too negative by not drifting too far from 1205, but if it closes 1190 or lower, then, it will start appearing soft in the weeklies as well.

Against 2 time scales and if it looks soft, the compounded effect will likely not be ignored further.

However, the lack of momentum and volatility rears its ugly head and soften the blow.

Interim supports are at 1193, 1190 & 1183.70 with minor supports at 1178.60, 1168.70 & 1161.50.

Interim resistances at 1202, 1207.80 & 1211 with minors at 1207.50, 1218 & 1221.70.

The daily/weekly trend changer points at 1220.30/1224.10.

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Gold Trends (20 Apr 2015) - Updates of Mib Agenti

It is saddening (maybe maddening as well) to see gold expend so much effort to try to hold it steady above the 1200 so that the dailies and weeklies both will start looking positive but it would have taken enormous effort to have brought it above 1210.

So in a sense, someone was looking for a cheap alternative to make the market start looking positive.

Woe is to the bulls as gold has now poked below 1200's but that could be a ploy to weed out the weak longs.

Having said that, all is not lost as we only need at closing above 1205 and the "damage" done by the foray lower would have been erased.

Interim supports are at 1194, 1190.70 & 1185.70 with minor supports at 1178.60, 1168.70 & 1161.50.

Interim resistances at 1201.80, 1210.40 & 1217 with minors at 1207.50, 1218.50 & 1221.70.
The daily/weekly trend changer points are at 1221/1224.10.

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Gold Trends (17 Apr 2015) - Updates of Mib Agenti

With gold holding steady here above 1205, in the weeklies, the earlier softness seems to have evaporated but being the weekly, it is simply a bigger creature with more girth so will be prone to be slower in reacting.

Just as well, the dailies look like it's trying so very hard to change track. However, the key is, it must at least cross 1215 and close above there in order to be relevant, a Herculean effort in itself, if there is no stimulus, aka, news, economic data, etc.

The momentum indicators are not fired up at the moment so the attempt could fall flat on itself.

Interim supports are at 1201, 1193.70 & 1185.50 with minor supports at 1200.10, 1178.60 & 1168.70.

Interim resistances  at 1211.30, 1216.70 & 1228.70 with minors at 1218.50, 1221.70 & 1238.

The daily/weekly trend changer points at 1221.70/1232.70.

Keep your eyes wide open before trading.


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Gold Trends (16 Apr 2015) - Updates of Mib Agenti

It is classic how the London and New York traders do not take to each other very well and usually trading in opposition of each other. They are playing a typical cat and mouse game all the time. 

Yesterday, NY made a move higher on the back of the weaker USD only after London had finished for the day. 

Just as well, nothing significant on the upside were breached. On a more serious note, it could be the market's way of culling the weak shorts before true intent is shown. Just like a poker face before revealing a hand of royal flush. 

The dailies remain poised for lower but the question is only how deep will it run barring any cataclysmic news but a lack of momentum and volatility is hindering forays below.

Interim supports are at 1193.60, 1190 & 1185.40 with minor supports at 1178.60, 1168.70 & 1161.50.

Interim resistance at 1202.80, 1211.60 & 1216.80 with minors at 1207.50, 1218.50 & 1221.70.

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Gold Trends (15 Apr 2015) - Updates of Mib Agenti

In the dailies, the bulk of the technicals are showing that softness should continue to rule for some more time. Due to the slowness of it moving lower, it is more apt to call it drifting, carried by a gentle wave. The momentum and trending indicators are at very low levels. So unless the volume is pumped up, we might not get too much length on this run (maximum around 1160's) before it turns back northwards. However if those are pumped up significantly, adding to weeklies which are starting to show the same way, we might get to flood levels and finally have a good run lower (1120's).
Interim supports are at 1192, 1185.50 & 1182 with minor supports at 1178.60, 1168.70 & 1161.50.
Interim resistances at 1197.50, 1202 & 1210 with minors at 1207.50, 1218.50 & 1221.70.
The daily/weekly trend changer points are at 1223.30/1232.70.