Gold Trends (31 July 2015) - Updates of Mib Agenti

The daily trend changer point was triggered earlier in the NY session which was at 1101.50 despite gold having transverse from the lows manufactured in London.

As usual, NY put on its usual derisive strategy to confound and confuse, causing panic and when you least expect it, pull the aces out of its sleeves.

The medium term trending indicator has started to show a small crook and if it crosses back into the negative territory, gold will be in for another selling off.

To avoid it, regaining 1100 and closing above it is crucial.

However, not in favour are the short term and faster trending indicators which are already showing signs of weariness.

The shrinking momentum/volatility indicators have also started rising again.

In the weeklies, by nature a longer term outlook, has not improved by much and remains scary if prices keep bouncing near the lows and may just pierce through eventually.

A longer term trending indicator in the weeklies was triggered and only it's early stages and maybe keep gold depressed for a longer period than desired.

Interim supports are at 1086, 1081 & 1067.30 with minor supports at 1070.40, 1030.80 & 1023.80.

Interim resistances are at 1104.60, 1137 & 1152 with minor resistances at 1123.20, 1132 & 1142.20.

The weekly trend changer point is at 1210.00.

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

Rightfully, the natural reaction to the FOMC announcement would have been, interest rates due to go up, then, sell the gold.

In a sense, that was done.

Gold started easing in Asia and into London hours.

However, NY being NY, usually do not like to follow others footsteps and sometimes, purposefully create an alternative path before resuming to their true intent especially when others are at opposing positions.

The medium term trending indicator was sagging earlier when I checked it when gold was at the lowest, that is, not yet been overrun.

Just as well it held the market there and pushed higher in the NY session.

However, a few of the other faster directional indicators are almost in the peaking zone, that is almost like climbing the side of a wall and then balancing on the roof's edge - not yet over, so in danger of slipping and falling down.

In order to be over it, gold must close above 1100 or else it is more like it's being set up for a sell off.

Bring it near there (1100) and create the sensation that gold was going to rocket back higher.

Interim supports are at 1088, 1085.50 & 1079 with minor supports at 1070.40, 1030.80 & 1023.80.

Interim resistances are at 1094.50, 1099 & 1103.50 with minor resistances at 1123.20, 1132 & 1142.20.

The daily/weekly trend changer points are at 1101.50/1210.

Watch The Charts (1101.50 - trigger).

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

In the dailies, there is an undercurrent beneath the surface.

On the one hand, a medium term trending indicator has cut up and in it's early stages.

So in a sense, the trend is still soft and malleable.

That is, it is possible to be twisted back lower.

However on the other hand, the faster directional indicators will likely be peaking nearer Friday.

It has made some nice recovery from an overdone position, but sadly not in the actual prices themselves.

The momentum/volatility indicators are also in remission but from a very high level and if so required, can easily be reignited and we may have another big move on our hands - second wind effect.

So all eyes are rightly on the FOMC announcement and that is the only impetus of a big movement for now.

The weeklies continue to look thrashed with a lingering scent of the faster directional indicators in the overdone zone and helping to underpin prices around here temporarily.

Interim supports are at 1091.20, 1085.70 & 1076 with minor supports at 1070.40, 1030.80 & 1023.80.

Interim resistances are at 1100, 1103 & 1124.50 with minor resistances at 1123.20, 1132 & 1142.20.

The daily/weekly trend changer points are at 1104.90/1210.

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

Well what do you know?

It's that time of the month again.

It's FOMC time.

I was wondering what happened to all the nice volume/volatility seen this past week, it couldn't have gone out the window so quickly.

If it means anything, one medium term indicator in the daily charts have just confirmed cutting up, for the higher, but the FOMC is the final decider on the next move/direction.

Looking at the way it is stacked, there is less resistance if gold were to poke higher from here.

For the way down, if the move is made too early then the indicators will have already looked overdone before you can say the word "go" and a struggle lower.

It will be good if selling happens on Friday as the technicals would have adjusted sufficiently for a new sell down.

Interim supports are at 1092.50, 1084 & 1074 and minor supports at 1070.40, 1030.80 & 1023.80.

Interim resistances are at 1101, 1104.50, 1111.40 with minor resistances at 1123.20, 1132 & 1142.20.

The daily/weekly trend changer points are at 1104.90/1210.

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

Gold opened near Friday's closing in Asia and didn't do very much until the Chinese stocks started diving to down 5% and made a feeble attempt higher.

The sell off didn't stir much interest even when the composite was down 8.5% and gold shrugged off the news and made its way softer again.

It could have at least taken out the daily trend changer point located at just 1109.05, and some recovery would have been very likely assured.

However, the good news is, the point will be lower tomorrow.

At this point, a medium term trend indicator is trying to turn back higher but needs a closing of at least 1100 or it will start to waver.

Once the turning is confirmed, then we may poke as high as 1130.

There appears to be a divergence, albeit a small one, in the momentum/volatility indicator.

Looking at the height of that now, it might cause gold to pull back to at least 1150 when it goes back the other way and re-syncs itself.

Interim supports are at 1088.60, 1078.70 & 1068.20 with minor supports at 1070.40, 1030.80 & 1023.80.

Interim resistances are at 1109.50, 1112.30 & 1142.20 with minor resistances at 1123.20, 1132 & 1143.

The weekly trend changer point is at 1210.00.

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

Gold is well below 1095 and I am waiting for the slam to happen.

Maybe the market is just waiting to do the last minute dash, in the last moments of the market, give it a shove into a bad closing and let the Monday revellers continue the course set and see how far it goes from there.

However, if NY abandoned the work done in Asian hours and close 1095 or higher, then we should be weary as a medium strength indicator would start looking chirpy in the dailies and may herald some recovery by next Wednesday.

Besides that, a bunch of the faster technicals are in the process of turning up and showing that we should have some recovery in the short term.

The momentum/volatility indicator has not increased with today's move with a small divergence in it.

Coming to the weeklies, although it looks super heavy, there is a slight tinge of looking overdone appearing in just a couple of indicators so that might put the brakes on in the short term.

Interim supports are at 1076.50, 1068.80, & 1062 with minor supports at 1070.40, 1030.80 & 1023.80.

Interim resistances are at 1087.50, 1096.50 & 1108 with minor resistances at 1085, 1123 & 1132.

The daily/weekly trend changer points are at 1117.05/1221.55.

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

Gold although looks pressured in the dailies, one of the medium term technicals, is starting to form a base of sorts should gold continue to hold steady, minimum 1195 or higher and must not see any new lows.

Then possibly we might have a mini recovery on our hands with a potential towards 1130 if successful.

Since it only just began, it will be flimsy for now but grows stronger each day it resist selling pressures and keep nearer to 1100 at each closing.

In the weeklies, the faster indicators are showing some early signs of trend exhaustion and will be further firmed up if no new lows are seen in the next month and if it coincides with the dailies at that time, then we may see gold recover to at least 1175.

Interim supports are at 1088, 1077.20 & 1074.50 with minor supports at 1070.40, 1030.80 & 1023.80.

Interim resistances are at 1098, 1109 & 1118 with minor resistances at 1123.20, 1132 & 1142.20.

The daily/weekly trend changer points are at 1124.65/1221.55.

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

The momentum/volatility indicators in the dailies are at it's highest levels since 2012 and it is not able to secure the 1100's (soft).

However, if the slam doesn't happen soon enough, by mid next week at the latest, and wanders back above 1100, gold will start looking over done and give us cause for some recovery.

In the weeklies, this move is just in its infancy and if it plays out as if it's a textbook case study, then, potentially 793 is where the move's objective is, where we are headed, but that's on a longer term basis, maybe will take 4 to 5 months to achieve.

Otherwise without new lows being made, some of the indicators in the dailies are looking weary and feeble attempts are being made to turn them up and over some time, the feeble attempts grows stronger and then we have our recovery, albeit a minor one. (Cover the gap - gap theory?)

Interim supports are at 1082, 1079.80, & 1074 with minor supports at 1070.40, 1030.80 & 1023.80.

Interim resistances are at 1093, 1097.50 & 1108.50 with minor resistances at 1123.20, 1132 & 1142.20.

The daily/weekly trend changer points are at 1134.10/1221.55.

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

Rechecking all the indicators earlier today, I was saying yesterday that "Technically, gold is still very much under pressure.......would be complete if 1050......", actually, where it is now, technically the move looks complete as yesterday's closing was not yet factored in but with the closing in place, the move now looks complete.

Simply put, if gold stays at least 1100 and higher, by next week (Weds), we might see gold putting some distance from the lows.

Unless there were some upheavals, it will only be retracements and not that the market turned bullish again.

To maintain the soft bias and see more supports being challenged, then, it needs to continue keeping below 1100 and not dally too long, or it will lose it's fervour.

At this point, no matter which technical/chart that you look at, will only show softness ahead unless you know what to look at and watch out for.

In a slightly longer time frame, gold is still very much under pressure.

Interim supports are at 1100.40, 1095.70 & 1080.70 with minor supports at 1070.40, 1030.80 & 1023.80.

Interim resistances are at 1111.70, 1122.20 & 1130.50 with minor resistances at 1123.50, 1132 & 1142.20.

The daily/weekly trend changer points are at 1145.60/1221.55.


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

Having a close below the 1140 seemed to do the trick with sellers elicited and stops were being gunned down by High Frequency Traders which saw gold plummet from 1130 to 1080 (futures) in the span of 1 minute.

In both the daily & weekly, gold has traded below movable bands 1116/1112.

When this happens, it must be "run" away but if at the closing, it manages to claw back and close back in the band, at this point, usually retracements would follow, that is, failure to break away.

So potentially it may recover to 1147/1165.

Technically, gold is still very much under pressure and the daily suggest that the down move would be complete if 1050 is achieved in the short term.

Otherwise it will start looking oversold.

The weeklies paint a more dire picture but that is in the longer term.

Interim supports are at 1100.50, 1095 & 1090 with minor supports at 1070.40, 1030.80 & 1023.80.

Interim resistances are at 1119, 1123 & 1126 with minor resistances at 1132, 1133.50 & 1142.20.

The daily/weekly trend changer points are at 1154.80/1221.55.

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

Gold is under continuing downward pressures with the possibly unavoidable rate hike just looming in the horizon.

In all likelihood, it is the Greek conundrum and the momentum/volatility being only in the first gear that is still keeping it from an all hell break loose scenario at the moment.

That is why though it is soft, it is only gently pushing lower.

All the more pity since the dailies and weeklies are both in sync for once with downside bias.

If it continues to be slow moving, the maybe we only get to mid 1120's.

If it becomes a push and shove, then we may even get as low as 1080 in the next 2 weeks.

Our wish may yet be granted as in the dailies, the momentum/volatility indicator just need a nudge (maybe need to break and close below 1140) by at least next Wednesday or it will start looking overbought and scuttle back upwards for a little time (technical adjustment).

Interim supports are at 1142.60, 1118.20 & 1098 with minor supports at 1132.80, 1128.20 & 1124.40.

Interim resistances are at 1155.70, 1170.30 & 1187.50 with minor resistances at 1156.90, 1166.50 & 1177.20.

The daily/weekly trend changing points are at 1163.50/1227.30.

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

Gold has finally succumbed to the pressure and broken under the surface, 1150, for now.

What it makes of it, will be left to its own devices unless there were news with risk-worthy hedging required, that will then make it pop back higher.

The natural inclinations with the current technical backdrop is, more easing of prices for the next 2 to 3 months.

However, the rate of descent will likely be measured and laboured unless funds get in on the act to drive up the momentum/volatility and then the show becomes spectacular.

Interim supports are at 1146.60, 1121.50 & 1100.50 with minor supports at 1144.60, 1132.80 & 1128.20.

Interim resistances are at 1159.70, 1170.50, 1174.30 with minor resistances at 1157, 1166.50 & 1177.20.

The daily/weekly trend changer points are at 1166.80/1227.40.

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

With gold below 1160 is spelling gloomy days for gold yet, in the short term, as both the dailies and weeklies are on the same side.

In the dailies, a pity there wasn't follow through selling so the momentum/volatility indicators have not reached frenzy levels yet.

All that is required in the dailies to alleviate the pressure is just to push it to 1165 and it looks a whole lot better.

The daily trend changer point has also been stealthily creeping lower at 1169.50 today.

Maybe the movers of the markets are just biding their time such that the daily trend changer point when it droops low enough, will not require too much effort to trigger and then enjoy the ride up.

Greece news might also cause some ripples.

Interim supports are at 1150.20, 1146 & 1121 with minor supports at 1144.60, 1132.80 & 1128.20.

Interim resistances are at 1160.70, 1173.30 & 1178.50 with minor resistances at 1157.20, 1166.50 & 1180.70.

The weekly trend changer point is at 1227.40.

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

It is scary to imagine the dire consequences of not holding at least 1165 has in itself, been pressurising gold the whole day.

Prices have just been sliding lower since, holding gingerly just at 1150.

Looking at the weeklies, it looks like the beginning of a new onslaught of fresh lows being sought.

There is a trending indicator (medium-long term) that is just being confirmed and may depress prices for the next 2 months.

However, the momentum/volatility is lacking so that might derail that option for now.

As suspected earlier, in the dailies, a breather was being permitted so that the indicators could recover from an oversold position so that maybe new lows can be had.

The momentum/volatility indicator is at a fair level and may reach an excited state in another 2 days if it runs lower (1130), then it comes into a frantic state.

Interim supports are at 1151, 1146.60 & 1121 with minor supports at 1144.60, 1132.80 & 1128.20.

Interim resistances are at 1162.50, 1173 & 1179 with minor resistances at 1166.50, 1170.20 & 1177.20.

The daily/weekly trend changer points are at 1172.60/1227.40.

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

In the dailies, the trending indicator is still southwards pushing, with no signs of abatement yet.

The real-time prices have come nicely off the lows and in the process, permitted a bunch of the other indicators that were in the overdone position, some time to realign itself into a neutral zone in case there was another round of bashing ahead, it will be having sufficient height to do more damage.

Capturing and closing above 1165 today will be essential as one of the medium term indicators will have confirmed it's intention and we may get lucky and see gold test back to at least 1190.

Interim supports are at 1158, 1153.20 & 1146 with minor supports at 1144.60, 1132.80 & 1130.60

Interim resistances are at 1164.50, 1175.50 & 1191 with minor resistances at 1168.30, 1177.15 & 1183.50.

The daily/weekly trend changer points are at 1176.15/1230.70.

Note. the daily point is coming into contention.

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

It's nice to be home after almost a week away and I am able to provide my 2 cents worth after reviewing the charts today.

In the dailies, the trending indicator that was pressurising gold lower continues to be the prime motivator.

However, a number of minor to medium term indicators have in fact, trying hard to turn up.

The key is whether gold is able to keep above 1165 at tomorrow's closing for the week.

In fact, one of the medium term trending indicators is having a divergence and if manages to cut back higher, gold has a good a chance of at least 1190.

Having said that, in recent past, every time a crucial closing is required, somehow, it failed miserably and new lows made/rediscovered.

Greece's fate still has relevance market will react accordingly.

Interim supports are at 1155, 1152.70 & 1148.50 with minor supports at 1144.60, 1132.80 & 1130.60.

Interim resistances are at 1166.70, 1176.50 & 1180.70 with minor resistances at 1168.30, 1170.20 & 1177.20.

The daily/weekly trend changer points are at 1180.15/1230.70.

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Gold Trends (01 July 2015) - Updates of Mib Agenti

We are getting an overdose of Greece news this past week.

Whichever way you look at it, it has defaulted.

However it is strange how creative we can get.

It has obviously flat-lined but we are not calling it as such and in fact, maybe now CPR is being done and put on life support?

Due to the dailies being unable to capture strategic resistance levels when it had some medium term indicators in its favour, has now "doomed" itself to stew in its own juices at the bottom of the pot.

A bunch of the indicators continue indicating softness but the momentum/volatility indicator's engine is still cold.

So it may not be a running away even if critical levels are breached unless catalysts are introduced.

Interim supports are at 1163.50, 1161.80 & 1156 and minor supports are at 1164.30, 1161.50 & 1144.60.

Interim resistances are at 1176.80, 1179 & 1184.30 with minor resistances at 1180.70, 1191 & 1196.70.

The daily/weekly trend changer points are at 1199.90/1163.50 with the latter being threatened.

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