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

In the weeklies, some of the indicators in the weeklies have just started to show signs of weakness.

It may well be a case of too little too late as in the dailies, quite a few of the indicators are showing that gold is bottoming around here if 1178 holds.

The momentum/volatility indicators in both are almost non-existent so unless there are any catalysts, it will unlikely we might break further lows.

With things stacked on one side, logically we may push higher again next week. So let's keep our eyes glued on the closing.

Interim supports are at 1181.80, 1178.80 & 1169 with minor supports at 1178.60, 1168.70 & 1161.50.

Interim resistances are at 1195, 1198.30 & 1206.70 with minors resistances at 1191, 1196.70 & 1207.50.

The daily/weekly trend changer points are at 1226.45/1148.05.

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

The dailies and weeklies are still not showing any build up in momentum and volatility - no sustainability.

In the dailies, a few of the early indicators are showing some indications the run lower are on its last legs.

If it still does not push through 1178 by the end of the week, then gold will bottom off here and head back to 1200.

On the other hand, even if it did crash through but not forcefully enough, then 1178 may act like an anchor and catapult it back higher like a bungee jumper.

Interim supports are at 1181.60, 1178 & 1168.70 with minor supports at 1178.60, 1168.70 & 1161.50

Interim resistances are at 1197, 1202.50 & 1206.60 with minor resistances at 1191 & 1207.50 & 1211.40.

The daily/weekly trend changer points are at 1229.40/1148.05.

Remember to watch the charts for the entry/exit signals and patience wins the game.


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

Having been away for a couple of days for some urgent meetings, gold succumbed to topside pressure and drifted a tad lower.

The daily trend changer point was triggered yesterday and is at 1231.30 today, The weekly is at 1148.05.

The dailies are pointing lower but some of the indicators are showing signs of bottoming (tiredness) plus the lack of momentum/volatility showing any endurance, we might not get the full benefit of the charts looking softer and it just might creep back higher from here, especially if we hold above 1178 till the end of the week.

Interim supports are at 1180.70 & 1168.30 with the minor supports at 1178.60, 1168.70 & 1161.50.

Interim resistances are at 1197,1206 & 1211.40 with minor resistances at 1191, 1196.70 & 1207.50.

Just remember to keep watching the charts and not get lulled into a false sense of security.

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

Trading in gold at the moment is like flying.

With the tussling of the dailies and weeklies, you can easily get caught in the cross winds and turbulence and be suddenly jerked higher or drop in a tail spin, without warning.

The only difference is, a crash doesn't seem to happen, out of either end.

So for the range traders, it's happy days indeed.

If we are lucky, or is it unlucky, such conditions might persist for some more time as the momentum/volatility indicators are scraping bottom and have not shown much signs of improving for at least another 2 weeks.

Interim supports are at 1200.80, 1193.50 & 1187 with minor supports at 1202.60, 1178.60 & 1168.70.

Interim resistances are at 1209.40, 1212.50 & 1229.50 with interim resistances at 1210.20, 1218.50 & 1221.70.

The daily/weekly trend changer points are now at 1187.90/1144.55.

Until the moment/volatility indicators improve, maybe best to trade the range and watch the chart for entry/exit signals - go for a quickie as still yields above $10 ranges.

Happy Holidays to my friends from the US & UK & HK (25 May)

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

The dailies continue to pressure price levels but the 1200 psychological level is holding it here for now.

Due to the drop being not severe enough, the weeklies has hardly moved, that is, it is poised for some strength later on if no new lows are breached.

Gold will have to stave off attempts for breaches of 1200 for at least another week in order for the daily indicators to come to very low levels so that it becomes easy to commandeer it back higher.

Interim supports are at 1201.10, 1186.50 & 1170.80 with minor supports at 1200.10, 1178.60 & 1168.70.

Interim resistances are at 1211.40, 1229.20 & 1236 with minors at 1210.20, 1218.50 & 1221.70.

The daily/weekly trend changer points are at 1185.15/1144.55.

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

I was looking at some agreements the whole night and it's very late. So I will be brief for tonight's commentary.

The early run in the dailies have turned sour with the price where it is and the height of the indicators are still near their tops from the the point of turning.

So gold is definitely pressured as there is plenty of room for lower levels.

However, it can all be averted if it somehow managed to spring board back to 1220 and higher (miracle needed).

Even if it did that, the indicators will again be in the slightly overdone zone.

However the weeklies remain intact & the current weakness seen in the dailies could be a technical adjustment (indicators being too high) to lower levels before plodding higher again.

The key is to hold above 1200 until the dailies turn again but will it?

Interim supports are at 1207, 1200.40 & 1186 with minor supports are at 1202.60, 1200 & 1178.60.

Interim resistances are at 1211, 1229 & 1239.80 with minor resistances are at 1210.20, 1218.50 & 1221.70.

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Gold Trends (19 May 2015) - Updates of Mib Agenti

I can't remember when but somebody suggested that I was pro-bull once.

The thing is, I am not.

If at all, I would like to think of myself as merely a crowd follower, but an early mover as such.

It is just that sometimes I see a nice move, which had taken such considerable effort in the making and to see all the efforts to be smashed in a single day, is really wasteful.

A day just like today.

Had gold held above or higher than yesterday's closing would be swell but it is like hanging on a cliff with just the fingertips, tenuously.

More of the indicators are now bearing down and adding pressure to the fray but all is not totally lost if we manage to creep back above 1220's as the directional indicators have not been coerced yet but in danger of being so if gold went lower.

Just too bad, a trending indicator in the weekly was just turning positive and before it could have any length, it was nipped in the bud.

Interim supports are at 1206, 1201.80 & 1189 with minor supports at 1204.70, 1200.10 & 1178.60.

Interim resistances are at 1212.40, 1214 & 1230.50 with minor resistances at 1218.50, 1221.70 & 1231.40.

The daily/weekly trend changer points are at 1178.95/1144.55.

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Gold Trends (18 May 2015) - Updates of Mib Agenti

As if on queue with the good closing last Friday, gold poked higher just as the early Europeans joined the market.

That was despite most of Asia dis-hoarding earlier and it resisted the onslaught of sales to hold above 1220 and spring board off there later.

Looking at the dailies, early weariness has started to show in 30% of the indicators but these can be easily overcome by continually having higher closes than the preceding day.

What it needs now more than ever is, sustainable momentum/volatility to carry it northwards, which is evidently missing.

It doesn't matter how positive/negative it looks, if the "fuel" is missing, it just won't burn and might just crash instead.

Interim supports are at 1216, 1211.20 & 1202 with minor supports at 1212.60, 1208.80 & 1204.70.

Interim resistances are at 1231.50, 1238.70 & 1242.40 with minors at 1238, 1240.70 & 1251.70.

The daily/weekly trend changer points are at 1175.55/1144.55.

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

It is good to see gold clinging on to above 1220's and will be doubly good if it also manages to close above.

If it does, especially the 1225, then it will start off on a positive footing for next week's session.

The dailies continue to look good and most of the indicators still have some room to go before it goes into overdone mode.

In fact a major trending indicator has almost confirmed but depends on the closing and that would mean gold will likely stay firm for a couple of weeks more.

The only thing holding it back is the momentum/volatility which is lacking and may need another 3 sessions to build up, that is, if it does.

Interim supports are at 1213.40, 1204.70 & 1198.60 with minor supports at 1212.60, 1208.80 & 1240.

Interim resistances are at 1227.50, 1230.20 & 1241. The daily/weekly trend changer points are at 1173.40/1142.90.

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Gold Trends (14 May 2015) - Updates of Mib Agenti

Gold has managed to hold on to the recent gains and with good reason.

It has quite a few of the indicators in both the dailies and weeklies, in its favour.

Usually this is a potent mix but with both of them having low momentum at the moment, this rally could be short-lived and a real struggle.

Unless it somehow manages to find renewed interest and the boosters are fired up, and then we finally have a decent chance to have a good poke higher, maybe to 1280.

Always be alert and watch the charts for signs of the trend decaying to get out quickly and maybe even preempt by selling some ahead and only average it when the downtrend is confirmed.

Interim supports are at 1216.70, 1212.20 & 1199 with minor supports at 1212.60, 1208.80 & 1204.70.

Interim resistances are at 1229.70, 1240.50 & 1260.60 with minor resistances at 1238, 1240.70 & 1251.70.

The daily/weekly trend changer points are at 1171.20/1142.90.

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Gold Trends (13 May 2015) - Updates of Mib Agenti

What a nice performance we have seen in gold today on the back of the unemployment data which remains relatively unchanged from the previous week which caused USD to ease and the ripple effect of gold being bought up as a hedge.

In the Asian hours, I took a reading of the charts showing that a play on the higher side could have been a possibility, has now come true.

Looking more keenly now, the momentum indicators in the dailies have not built up to urgent levels yet.

If they remained at the current levels then maybe 1220-25 might present some barrier at the moment.

A date to watch out for will be where gold will be by 27 May, to be above 1220. Then, that will translate into gold tending higher, possibly 1280 could be tested in the next month or so.

In the event the momentum does not build up, then we should start for lower soon, maybe back to 1190.

Interim supports are at 1208, 1202.80 & 1198 with minor supports at 1208.80, 1204.70 & 1200

Interim resistance at 1219.70, 1227.50 & 1238 with minors at 1218.50, 1221.70 & 1241.

The daily/weekly trend changer points are at 1167/1140 (estimated - both were triggered in this session) Since it's triggered, what more, both the weekly/daily, we might see higher for at least 1 month.

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Gold Trends (12 May 2015) - Updates of Mib Agenti

In times like this, when market is so range bound, it is good to remember Kauffman.

Trade a lot when the market is noisy and trade less when the market is quiet.

If you don't do that, it is hard to clock in the P/L.

However, always keep your eyes opened and take your cue from the entry/exit signals and one cannot be too obstinate or deep pockets are required.

Just as well, without true direction, market is easily spooked, eg., bond returns were the reason for today's spike higher.

The momentum indicators are still having no signs of life and any sudden movement either direction will likely not have too much follow through.

Interim supports are at 1187, 1180.70 & 1177.40 with minor supports at 1178.60, 1168.70 & 1161.50.

Interim resistances are at 1197.70, 1205.80 & 1216.50 with minors at 1196.70, 1208.50 & 1218.50.

The daily/weekly trend changer points are at 1209.10/1215.

https://play.google.com/store/apps/details?id=com.gold.trading.chat

Gold Trends (11 May 2015) - Updates of Mib Agenti

Having been away for the past 2 days, I felt something amiss and so I studied the charts again with a "refreshed" view and recent price movement is beginning to show more and more of what I suspected to be building up, but I really hope that I am wrong. 

In the making, possibly is a horizontal price channel (scary), but seen both in the dailies and weeklies - even scarier.

If it's true, then we are doomed to enter into a trading purgatory for the foreseeable future until someone commandeers the market, higher, or lower it doesn't really matter, just get out of loop and head somewhere new.

Interim supports are at 1181, 1174.40 & 1168.60 with minor supports at 1178.80, 1168.70 & 1161.50.

Interim resistances are at 1192.60, 1198 & 1202.30 with minors at 1196.70, 1207.50 & 1211.40.

The daily/weekly trend changer points are at 1209.90/1215.

https://play.google.com/store/apps/details?id=com.gold.trading.chat

Gold Trends (6 May 2015) - Updates of Mib Agenti

Gold continues to be in Cloud 9 for some more time.

The indicators have gone into a kissing zone rather than a killing zone, crisscrossing each other at every turn and well meshed together unable to break the status quo.

The missing ingredient in recent sessions were, sufficient and slightly more sustained momentum/volatility which could tip the ranges to be wider with more height or depth.

The danger of current conditions is, one gets lulled into false comfort and that's when it goes into a killing zone

Gold needs just to pull and close above 1200 in order to see some challenges of upper boundaries around 1210 but if it stays below it by end of the week, will set a softer tone for beginning of the week.

Interim supports are at 1190, 1182.40 & 1170 with the minors at 1178.60, 1168.70 & 1161.50.

Interim resistances are at 1198.60, 1207.50 & 1214 with the minors at 1196.70, 1208 & 1218.50.

The daily/weekly trend changer points are at 1212.40/1215.

Mib will be away the next 2 days so likely there will not be any updates.

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Gold Trends (5 May 2015) - Updates of Mib Agenti

It is fun to be trading gold right now if you are getting it right.

Especially when it is range bound with $30 to $40 ranges to be had.

A nice move up from overnight markets as participants are betting on the slew of economic data out during the course of the week, especially the unemployment figures, that it will not be good and the interest hikes could be delayed till at least September.

The way it has played out previously, market reacted by pushing higher first and quickly running out of steam before plummeting back whence it had come up from.

It was really fun.

Gold needs to crack and close above 1200 in order for the dailies to start looking better. Below 1200, it continues to look soft.

We just have to be careful not to be too complacent and diligently watch the charts for any hidden developments that might come up.

Interim supports at 1190.40 & 1170 with minor supports at 1178.60 & 1168.70.

Interim resistances at 1198, 1206.50 & 1214 with minors at 1207.50 & 1221.70.

The daily/weekly trend changer points are at 1213.30/1215.

https://play.google.com/store/apps/details?id=com.gold.trading.chat

Gold Trends (4 May 2015) - Updates of Mib Agenti

Of late, gold has been severely capped by indecisiveness.

This is by and large due to the low momentum and volatility indicators, which have entered a "kissing" zone and looks like it may last a tad longer.

Punters who play on breaks will be stopped out every time and range traders are champions at the moment.

Coming back to the task at hand, despite that, gold continues to appear soft but takes opportunity to pull back at any instance.

Interim supports are at 1189, 1180.40 & 1168.40 with minor supports at 1178.60, 1168.70 & 1161.50.

Interim resistances are at 1197.50, 1205.30 & 1214 with minors at 1207.50, 1218.50 & 1221.70.

The daily/weekly trend changer points are at 1214.10/1215. Both are above  so provide some pressure on gold.

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