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

Gold is reacting to every news snippet that might be in vogue at the moment.

However with the Greek issue on hand, seems to cause everybody to be sitting on edge and see who is quicker on the draw.

Faster does not necessarily mean the winner.

When the market opened in Asia, it was nearer 1180 and it didn't look so pressured but with it just treading the 1170, looks really vulnerable.

However it might not make any headway southwards as it is only looking soft and may not have substance behind it.

I am not sure if it is thankfully or unluckily, that the momentum/volatility indicators are still maintaining their poker face and anything you throw at it right now, will just slide off.

Having such a flimsy stance, it maybe more profitable to try range trading especially when it's near crucial levels.

Interim supports are at 1162.20, 1157.50 & 1134.60 with minor supports at 1168.70, 1161.50 & 1144.60.

Interim resistances are at 1179, 1182.50 & 1185.50 with minor resistances at 1177.20, 1180.70 & 1191.

The daily/weekly trend changer points are at 1202/1163.50 - 1163.50 might be targeted so as to have daily/weekly points in negative position.

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

Gold has been swinging wildly since Asia's opening, all driven by Greece's looming default/crisis news/updates over the weekend.

Despite the impending doom and gloom, the old news from 8 June that it will not be significant if they exited the EU was re-flashed in news articles and that promptly "coaxed" players to sell away the safe haven holdings.

Anyway you dice it, it seems what is propagated that, whether or not Greece is bailed out or exits the EU, is inconsequential anymore.

Gold was looking temporarily better when it was above 1185 and a closing above there will have likely eked it back towards 1200, but that is not to be now.

Back below 1180, it continues to look soft and pressured.

Interim supports are at 1171.50, 1168.50 & 1162.60 with minor supports at 1168.70, 1161.50 & 1144.60.

Interim resistances are at 1179, 1185.30 & 1194.80 with minor resistances at 1180.70, 1184.50 & 1191.

The daily/weekly trend changer points are at 1203.40/1163.50.

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

The recent attempt northwards must have been one of the feeblest I have ever seen.

As it soon dribbled back lower despite conquering 1200 as it didn't manage to hold on to the gains and thereby also causing it's own downfall in one fell swoop.

If this was a comedy, then it will have been a classic slapstick.

With the momentum/volatility indicators in the walking dead zone - moving but not alive, if it doesn't get into gear soon, then the downside attempt will be limited, probably 1168 level is all we get.

Some of the quicker on the turn indicators are also almost near bottoming, soon.

If it did, then the downside is done for now, that is, if we don't crash through 1175 soon.

Interim supports are at 1176.20, 1170 & 1158 with minor supports at 1168.70, 1161.50 & 1144.60.

Interim resistances are at 1184.80, 1190.10, 1193.30 with minor resistances at 1180.70, 1185 & 1196.70.

The daily/weekly trend changer points are at 1168.70/1160.70.

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

So this is how starting on a crook could lead to.

We have only been seeing gold going from soft to softer since the Asia opening.

You could almost say gold is spineless, it just cannot stand on its on.

Due to all the indicators being not in sync with one another, makes it difficult difficult for trend traders as they get wiped out every time.

Before any kind of confirmation comes on any of the indicators, it changes mid-way again and again.

Range traders rule for the moment as they are coming out on top of current market conditions.

As the indicators are mixed, the faster indicators have now turned down for the lower but the momentum/volatility is not a sustainable level yet.

Whereas the slower indicators have not been negated.

Interim supports are at 1183, 1173.50 & 1162.30 with minor supports at 1178.60, 1168.70 & 1161.50.

Interim resistances are at 1190.50, 1192.50 & 1197 with minor resistances at 1191, 1196.70 & 1207.50.

The daily/weekly trend changer points are at 1167.20/1160.70.

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

There is a medium term trending indicator in the daily just passed the mid level but gold has to close above 1202 if it were to make use of it.

The same indicator in the weekly has turned back into looking positive.

The momentum/volatility indicator has risen a little but not enough to spur the market into a frenzy yet.

It will be bad if it stalls as gold would be pressured next week.

A bunch of the shorter term indicators are peaking and if no new highs are made, then we might start next week on a crook it will be weighed down by its own mass.

Interim supports are at 1197.40, 1189.80 & 1184.30 with minor supports at 1178.60, 1168.70 & 1161.50.

Interim resistances are at 1205.50, 1221.60 & 1228.20 with minor resistances at 1207.50, 1210.20 & 1218.50.

The daily/weekly trend changer points are at 1165.60/1157.70.

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

What a nice run gold has had off the FOMC announcement and have been climbing steadily.

One crucial indicator in the daily was beaten down yesterday but has since not only resumed its earlier path, and has even surpassed earlier levels such that it has come to an important level and if gold closes above 1200.

Well and good, then it will likely be able to push off higher afterwards, maybe to 1220.

However, with the rapid rise but with low momentum/volatility, the other indicators are almost reaching peak levels, probably by the middle of next week so that doesn't leave too much upside playtime unless the momentum kicks in which will open a new dimension to range/play.

So hopefully the euphoria maintains so that we see at least 1220.

Interim supports are at 1197, 1191 & 1186 with minor supports at 1178.60, 1168.70 & 1161.50.

Interim resistances are at 1205, 1221 & 1238 with minor resistances at 1207.50, 1210.20 & 1218.50.

The daily/weekly trend changer points are at 1163.90/1157.70.

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

Gold is pretty much undecided which direction is best at the moment.

The decider will probably be post FOMC decision/announcement but the euphoria, that is, rates remain unchanged, if its unchanged and some buying come out of it.

Which will probably be short lived and back to the doldrums soon after.

Anyway, with gold where it is now, even in the dailies, is starting to look a little heavy and coupled with the weeklies softness, hopefully will coerce fresh selling so that we see a new range set.

If only we had more momentum/volatility or the effort might be futile.

Interim supports are at 1176.30, 1169.20 & 1158 with minor supports at 1168.70, 1161.50 & 1144.60.

Interim resistances are at 1182.40, 1187.80 & 1195.40 with minor resistances at 1185, 1191 & 1196.70.

The daily/weekly trend changer points are at 1162.90/1157.75.

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

A clash is going on in the charts right now.

The bulk of the indicators are all showing divergence but a major indicator is on the opposing side.

Going by the divergence alone, then gold should trade to 1200 but if we go by the opposing indicator, then maybe we will see 1150's.

Not helping the situation is the momentum/volatility indicator at ultra low levels and right now, it will more likely be driven by news and other external factors like the US Dollar.

Just as well, we have the FOMC coming up and that will deaden it further with jerky trading ahead, and unchanged is the consensus so we might go back higher after that?

Interim supports are at 1179.30, 1175.50 & 1169.20 with minor supports at 1178.60, 1168.70 & 1161.50.

Interim resistances are at 1188.10, 1195 & 1200.50 with minor resistances at 1185, 1191 & 1196.70.

The daily/weekly trend changer point at 1188.60/1157.75. Since it's nearer, we might try to trigger 1188.60 and we might see higher ranges thereafter.

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

It was a good thing that gold managed to close above the 1180's.

With that, it had averted having the technicals in the dailies, to begin looking pressured.

With the divergence still in play and not too far in the background, could give gold its legs required to spring it higher.

Also the medium/longer term indicator that threatened lower, has been compromised for now and will only be back in contention if gold is 1175 or lower.

However, it has lost it's first mover advantage when it first confirmed compared to the second time it crosses back over.

Interim supports are at 1177.50, 1167 & 1159 with minor supports at 1178.80, 1168.70 & 1161.50.

Interim resistances are at 1189.20, 1193.40 & 1200.80 with minor resistances at 1184.50, 1191 & 1196.70.

The daily/weekly trend changer points are at 1192.10/1154.60.

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

A pity gold missed closing above 1190 or else we might have pushed above 1200 by now.

The US jobless claims data was almost unchanged from the previous week and a cause for the celebratory mood as funds jump back to piling in the US dollar and equities as well.

In the dailies, the technicals are still at the lower end and has room to run higher if it decided to do that.

It has also not played out the divergence to it's full effect either.

The medium/longer term indicator pointing lower was not negated and come back into play but a lack of momentum/volatility might cause it to end abruptly.

Interim supports are at 1176.60, 1167.20 & 1160 with minor supports at 1178.60, 1268.50 & 1161.50.

Interim resistances are at 1182.20, 1190.20 & 1195.50 with minor resistances at 1184.50, 1196.70 & 1207.50.

The daily/weekly trend change point is at 1192.10/1154.60.

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Gold Trends (10 June 2015) - Updates of Mib Agenti

Gold is trending a little today, hit bottom and bounced off the lows like a ping pong on the floor.

It has only been on a one way track upwards since.

There were suggestions that gold has been rising due to Greece's likely default (old news).

However, I would like to think it's more the banking news that's causing some shaking.

HSBC job cuts, quite a few downgrades happening, maybe that is a prelude to another crunch looming?

I leave the story-tellers to make up the fundamentals.

For now, the dailies look a whole lot better than it did when gold was treading 1170's and the medium/long term indicator that threatened, has been temporarily neutralised, depends if it closes above 1190 means 1200 and slightly above thereafter.

Interim supports are at 1182, 1167 & 1160 with minor supports at 1178.60, 1168.70 & 1161.50.

Interim resistances are at 1195, 1197, & 1201.70 with minor resistances at 1196.70, 1207.50 & 1210.20.

The daily/weekly trend changer points are at 1195.70/1154.60.

p.s. my friend flashed me the silver ETF charts earlier, I can only say, OMG, it has been quietly been increasing at almost a 45 degree angle for the past week - nice. Hope it goes for a good run up.

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Gold Trends (09 June 2015) - Updates of Mib Agenti

Gold has picked itself up nicely off the lows to trade nearer the 1180's.

So depending where it closes tonight would give a bearing on the direction on the morrow.

It will at least be poised to try higher, that is, fulfilling the divergence play and maybe we creep back to 1200's.

There are some indicators on the mend as well and nicely so, but a medium/longer term indicator has just confirmed signal for lower and if it has its day, would mean gold would be in for more selling later on, probably extend another 2 weeks.

To cancel it, gold needs to get back to 1190.

Interim supports are at 1171.40, 1168.10 & 1163.70 with minor supports at 1168.70, 1161.50 & 1144.60.

Interim resistances are at 1182.90, 1189.70, 1197.70 with minor resistances at 1184.50, 1191 & 1196.70.

The daily/weekly trend changer points are at 1200.20/1154.60.

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Gold Trends (08 June 2015) - Updates of Mib Agenti

If anybody missed me, I was away for some urgent meetings the past few days.

Anyway, gold has moved nicely lower pressured by the improving job figures which triggered dollar strengthening and gold's weakness.

Most of the analysts are focusing on these week's job figures and most are guessing they will be better than last week's numbers which means they are favouring a further slide in gold prices.

On the technical side in the dailies, the only issue with the fundamental view is, the momentum/volatility is not yet in the "urgent" mode and a struggle to head lower with some of the medium term indicators on the verge of being confirmed, or will it confirm and not turn out to be a dud?

Due to the slow movement, a divergence is taking shape and if it manages to trade back above 1180 and close above, then it might just snap back to 1200's.

Interim supports are at 1169.30, 1165.50 & 1157.70 with minor supports at 1168.70, 1161.50 & 1144.60.

Interim resistances are at 1178.60, 1182.40 & 1188.20 with minor resistances at 1177.15, 1180.70 & 1183.50.

The daily/weekly trend changer points are at 1205.40/1154.60.

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Gold Trends (02 June 2015) - Updates of Mib Agenti

Gold continues to be stuck in recent ranges and looks set to get tighter and tighter.

The momentum/volatility indicators remain in the "walking dead" zone at the moment and definitely need a good kick in the behind to get it started (doesn't matter which way).

I have been looking at it from different angles and I'm guessing that the malaise could be due to fresh bulls continually being bull-dozed by the long liquidators (biggest suspect - ETFs cutting losses) so much so that the bulls have shied away from the market.

So unless the fundamentals are in support of a longer term bull rally, gold remains in purgatory for some more time.

Otherwise, we will likely see gold poke back above 1200 this week.

Interim supports are at 1181.40, 1176.50 & 1167 with minor supports at 1178.60, 1168.70 & 1161.50.

Interim resistances are at 1196, 1202.50 & 1211.40 with minor resistances at 1196.70, 1207.50 & 1210.20.

The daily/weekly trend changer points are at 1211.10/1151.40.

p.s. In case anyone missed me, it was a holiday in Asia yesterday.

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