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

If the market can be insulated from external factors, then, in the dailies, by just pure technicals alone, is due for some easing.

The medium term trending indicators maintain a downward bias and the angle of the decline is too steep to "withstand" too much resistance.

The longer term directional indicator's engine is now left cold and harder to be reignited and so, upside potential is temporarily curtailed.

The faster and short term directional indicators attempt to turn back higher are questionable as gold continue to lose its grip after it managed to push higher.

The green shoots seen in the weeklies earlier are malleable and as fragile as wisps of smoke.

Just as well, the momentum/volatility indicators are also at low levels.

Market seems to be biding its time till the decision on the rates are made.

Until that time, it seems happy to be just pushed around.

Interim supports are at 1125, 1115 & 1092 with minor supports at 1123.70, 1118 & 1103.50.

Interim resistances are at 1133.50, 1140 & 1165 with minor resistances at 1132, 1142.20 & 1157.

The daily/weekly trend changer points are at 1165.40/1168.40.

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

With the muscle play in the currency markets, has left the US dollar at an unsustainable level plus developments in world markets, tipping the FOMC to put a hiatus on the supposedly rate hike in September, bringing relieve all around as equities rebounded as well as gold.

So for now, we see gold testing a little higher but what will come out of it?

In the dailies, the momentum/volatility indicators are in crawl mode so short term wise, gold might not be moving too drastically.

The faster directional indicators are also trying to overcome the weakness and being a little near to the peak where it came off from, may prove a hinderance to surpassing recent high set last week even if it successfully turned up from here.

The medium term trending indicator hasn't flinched as the angle it was coming off from, is very steep.

This leaves the longer term directional indicator showing faintest signs of being revived.

The weeklies shows the slightest of promise for trying higher but the momentum/volatility  trending indicators are only purring and not roaring.

Interim supports are at 1131.50, 1128 & 1108 with minor supports at 1130.60, 1124.40 & 1118.

Interim resistances are at 1137.50, 1143.50 & 1165 with minor resistances at 1143, 1157 & 1166.50.

The daily/weekly trend changer points are at 1166.40/1172.30.

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

The word Shemitah was whispered around dealing rooms as being the reason we are seeing what we are seeing in global events but it was to happen only in September.

Also, QE4 is being called for by some parties to stymie and probably pre-empt/salvage the situation before it becomes too bad.

So if QE4 do start, it will be a very different ball game.

Until it does, the trend changer point in the dailies was triggered and resting above at 1167.40 while the weekly point is at 1172.30, applying some pressure at the moment.

The medium term trending indicator is southwards bearing and have some way to go, maybe last 2 to 3 weeks before able to bottom out.

The weakness in the short term directional indicators are newly minted so possibly we may see fresh weakness with some vigour, for at least a week.

The green shoots seen earlier in the long term indicators has been suffocated and may take some time before a stronger signal emerges.

In the weeklies, the faster moving indicators just started showing some weakness but not has not reach frenzy level yet so ranges might not be so hectic.

Interim supports are at 1115, 1111.30 & 1105.50 with minor supports at 1118, 1103.50 & 1070.40.

Interim resistances are at 1128.50, 1133.50 & 1136.60 with minor resistances at 1132, 1142.20 & 1156.90.

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Gold Trends (26 August 2015) - Updates of Mib Agenti

Just a mini update in the interim till I'm fully back tomorrow.

Gold has been on cue, reaching higher but not too high and now fresh pressure is on in the past few sessions since.

Just taking a quick/basic reading, it will be likely selling pressures  continue in the short term, that is, at least till the end of the week.

Interim supports are at 1103.60, 1094 & 1086.50 with minor supports at 1118, 1103.50 & 1070.40.

Interim resistances are at 1129.50, 1135 & 1138 with minor resistances at 1132, 1142.20 & 1157.

The daily/weekly trend changer points are at 1168.40/1172.30.

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

Ahead of the FOMC, gold has started pushing on the resistances.

With gold above 1125, gives it a jollier outlook.

However, closing above 1125 is essential and closing above 1130 will be catalyst to gold having a go at 1150.

Having said that, where it closes is of lesser importance than the FOMC decision later.

The short term directional indicators are attempting a forced turning here from the middle of the field.

The medium term trending indicators has straightened out slightly and steeper than yesterday.

The long term directional indicator has crossed over and if momentum/volatility concurs, might keep gold firmer and higher.

In the weeklies, the faster directional indicators are almost reaching the overdone zone and if current direction is maintained, than this correction will probably over in about 4 weeks' time.

The medium term trending indicator is crossing over but gold must close above 1130 by week's ending and then it's confirmed.

However, gold has a bad habit of letting the market recover to such an extent so that it might look good technically but unconfirmed (on some charts), just below crucial resistances, and smash it lower after that, and catching the break out chasers.

Interim supports are at 1114, 1094.50 & 1087 with minor supports at 1103.50, 1070.40 & 1030.80.

Interim resistances are at 1131.20, 1164.50 & 1181 with interim resistances at 1132, 1142.20 & 1156.90.

The daily/weekly trend changer points are at 1100.35/1180.55.

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ps MIB will be away and back on 27 Aug.

Gold Trends (17 August 2015) - Updates of Mib Agenti (Missed)

In the dailies, the trend changer point was triggered almost 1 month back and slowly creeping higher after that and resting at 1094.25 today.

Gold should have taken a greater advantage by pushing higher instead of just coasting higher on a leisurely pace.

The faster short term directional indicators have just turned or crooked, adding some light pressure.

The medium term trending indicator is still fine if we manage to test and best if closes above 1120's.

The daily highs/closes must be above that of the previous day if the trend can be maintained in the interim.

If gold stays below 1120 or worse, close below 1110, then, even that would have turned.

The weekly charts continue improving marginally and so far, nothing to suggest any strong moves for now on it's own merits.

Interim supports are at 1109.50, 1105.50 & 1084.50 with minor supports at 1070.40, 1030.80 & 1023.80.

Interim resistances are at 1124.50, 1128.80 & 1131.50 with minor resistances at 1123.20, 1132 & 1142.20.

The weekly trend changer point is at 1180.55.

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

In the dailies, with gold stalling just below key resistances and it's inability to conquer and hold above it, makes it an easy target, like a sitting duck.

What is not good is the short term trending indicators which have turned down, with some down side bias. 

The turning is almost near the top of the apex meaning it is newly minted. 

So, if gold still refuses to push higher to void that, it will be under pressure maybe for the next 2 weeks from here on. 

The medium term trending indicator is attempting to make the turn (lower) and just showing slight signs of exhaustion but that easily be remedied. 

The longer term indicator has gone into a stasis and market maybe range bound until new inspiration is introduced. 

The weeklies short term directional indicator has recovered and bearing north and the medium term trending indicator has recovered sufficiently and may cut upwards, and we get some length on the upside.

Interim supports are at 1109.50, 1087 & 1080 with minor supports at 1103.50, 1070.40 & 1030.80.

Interim resistances are at 1125, 1129 & 1132.30 with minor resistances at 1123.20, 1132 & 1142.20.

The daily/weekly trend changer points are 1097.45/1180.55 - NB daily point creeping higher, triggering soon?

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

In the dailies, the long term trending indicator finally crossed over to the positive territory but whether it can make anything out of the current sentiment/swing, going by just the momentum/volatility indicators, is a toughie unless something cataclysmic happens really soon or the technicals come into play.

That will be gold having a good close, preferably above 1130 and technically looks more positive, a self fulfilling prophecy.

Quite a few of the short term directional indicators are swooning already, at the top and easily tippable once gold starts closing lower and lower.

The medium term trending indicator is still looking good for now and not "damaged" too much by yesterday's lower closing.

In the weeklies, the current move has given a much needed reprieve to catch a breather, maybe before being hung again?

It will need gold to close above at least 1170 (weekly close) before the long term bearishness can be negated into neutrality.

Interim supports are at 1108.50, 1102.50 & 1085 with minor supports at 1070.40. 1030.80 &1023.80.

Interim resistances are at 1127.20, 1130.50 & 1138.20 with minor resistances at 1132, 1142.20 & 1156.90.

The daily/weekly trend changer points are at 1090.70/1189.55.

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

In the dailies, gold is a tricky position today after yesterday's high was achieved.

Where it is now, gold's faster directional indicators are not looking too optimistic and on the verge of turning back lower.

It will be worse if the closing tomorrow does not surpass the recent high and closes above that, then this up move looks about complete.

Then next week will see gold under pressure with a light touch initial and crumble lower if no more forays higher are done.

However the issue is easily resolved by just closing higher.

The other indicators are still relatively healthy and only lack momentum/volatility, which has not yet built up sufficiently.

In the weeklies is a slower creature with a different temperament and have only a small chink to show for this move up so it is easy to resume it's earlier direction if the market softens again.

Interim supports are at 1106.70, 1099.50 & 1085 with minor supports at 1070.40, 1030.80 & 1023.80.

Interim resistances are at 1127.50, 1138.50 & 1163.50 with minor resistances at 1123.20, 1132 & 1142.20.

The daily/weekly trend changer points are at 1086.75/1189.55.

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

In the dailies, what a nice turn of events and let's enjoy it while it last.

All of the indicators are in harmony with only one set path for now.

The momentum/volatility indicators had the winds removed from the sail for now but it will be good to see new momentum/volatility churning the market around, to compensate for the passivity of the past 6 months.

A medium term trending indicator has come to a critical level and if successful, will develop a second wind and keep gold testing higher for a tad longer - 2 weeks.

However the faster directional indicators have almost reached the overdone zone and if no further highs/closes are achieved at the week's closing, then, we might see it under pressure next week.

After projections and interpolations, if successfully done, then upside potential for this run is 1155-1160.

In the weeklies, the faster directional indicators are looking marginally better than yesterday, that is, firmer looking.

It will take more time for the longer trending and directional indicators to realign.

Interim supports are at 1096, 1085 & 1078.50 with minor supports at 1070.40, 1030.80 & 1023.80.

Interim resistances are at 1127, 1138 & 1163 with minor resistances at 1123.20, 1132 & 1142.20.

The daily/weekly trend changer points are at 1083.40/1189.55.

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

The longer term trending indicator has shown completeness of the move down for the moment, with gold at 1110 or higher.

The minute gold closed above 1100 gave a signal that we could be targeting 1130 in the near term and 1150 in the medium term.

Some of the faster directional indicators, if the run up does not continue for the rest of the week, will start to feel the gravitational pull and pluck it off it's perch.

So there is some upside bias for now.

In the weeklies, the faster turning directional indicators have crook upwards and retracements might be in order the medium term trending indicator is showing the faintest of a crook.

However, the longer term trending indicator is showing that permits, despite it all, gold remains under pressure still.

Interim supports are at 1098.60, 1093.30 & 1083 with minor supports at 1070.40, 1030.80 & 1023.80.

Interim resistances are at 1111.60, 1126.20 & 1138 with minor resistances at 1123.20, 1132 & 1142.20.

The daily/weekly trend changer points are at 1081.10/1189.50.

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

Gold is stubbornly refusing to even come near to the 1080 and by doing that, has managed to temporarily alleviate the pressure on itself.

If it continues holding thus till the end of the week, the long term trending indicator will likely be culled into a consolidation phase extending 2 months or more.

The medium term trending indicator is managing to keep a stiff upper back for now.

The short term directional indicators are still bearing southwards but managed to retract a little while the momentum/volatility indicators are waning by the day.

However, the daily trend changer point has now come higher at 1079.05, just a whisker away and will be higher still tomorrow.

In the weeklies, the faster moving trending indicators are starting to crook due to no new lows in the past week and so if gold closes nearer the 1100, it will be in a better position and low could have been seen for now with some chance to try to secure 1100 next week.

Interim supports are at 1080.70, 1069.50 & 1064 with minor supports at 1070.40, 1030.80 & 1023.80.

Interim resistances are at 1090.20, 1100 & 1128 with minor resistances at 1123.20, 1132 & 1142.20.

The weekly trend changer point is at 1199.40.

Mib Agenti will be away for the next 2 days so no updates till the 11th at the earliest.

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

In the dailies, gold is showing fatigue in some of the faster moving directional indicators and will be weighing down on it and may well try to trigger the trend changing point at 1178.50 today.

If it is successful, maybe the medium term trending indicator will be compromised as well.

That in the meanwhile has recomposed quite well and no longer in the overdone zone and so a renewed onslaught on the lower side could well see us push past the previous low and the maybe play around the psychological level of 1050.

With the USD having such strength and vigour, is difficult for gold to be fighting that to push too high for the moment.

The softness in the long term trending indicator has not been curbed and gone into consolidation so there might be some chance it will continue to add extra pressure.

The weeklies will likely to continue to rule for a tad longer and if it doesn't go below 1050 in 4 to 5 weeks time, then this run lower will be more or less completed in the interim as the indicators have almost reached overdone zone.

Interim supports are at 1082, 1070 & 1065.50 with minor supports at 1070.40, 1030.80 & 1023.80.

Interim resistances are at 1092, 1101.30 & 1128.50 with minor resistances at 1123.20, 1132 & 1142.20.

The weekly trend changer point is at 1199.40.

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

With gold back above 1090's, in the dailies, the medium term trending indicator looks a mite better than when it were below it.

It will not be able to score languishing below the 1100 as a closing above that will likely cause a flurry of short-covering and give the market much reprieve temporarily.

The faster directional indicators are bunching at the moment and near the top.

The fear is when they start swinging lower, may also drag gold a long.

The momentum/volatility indicator has receded by 25% and with that outflow, makes it difficult to be expecting too much from the market at the moment, whichever direction it attempts.

The long term directional indicator which was the background of recent movements, has almost come into the neutral zone and if it did, then gold might need 2 months to sort out whether it preferred to go back higher or lower.

The weeklies are showing slight resistance to downside plays for now and gentle brakes are in place vis-a-vis, the faster directional indicators showing slight signs of fatigue and trying to turn back upwards.

Initial supports are at 1084.60, 1072.50 & 1068 with minor supports at 1070.40, 1030.80 & 1023.80.

Interim resistances are at 1095, 1100.60 & 1129 with minor resistances at 1123.20, 1132 & 1142.20.

The daily/weekly trend changer points are at 1078/1199.40.

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Gold Trends (3 August 2015) - Updates of Mib Agenti

In the dailies, looking that the empirical evidence of all the indicators, the majority of them are gently biased to the upside.

The medium term trending indicator is still bearing north nicely.

A small bunch of the faster directional indicators looks like it's forming a v-shape type of recovery.

The long term directional indicator looks like it's going in a phase of plateauing.

While the signs are encouraging for some recovery, trying alone is insufficient.

It must be able to stand it's own and get the dust off its behind and really get moving higher above 1100's and we may yet get to see 1150.

The way the market is panning out, if it doesn't get higher by the end of the week, it will quickly lose its resolve and sink upon itself and the recent lows will be revisited and probably with a new low by early next week.

The momentum/volatility continues to retract and a good chance for retracements is now.

In the weeklies, a number of the faster, directional indicators are showing some signs that the market is in need of some recovery.

Interim supports are at 1087.50, 1074 & 1068 with minor supports at 1070.40, 1030.80 & 1023.80.

Interim resistances are at 1097.50, 1100 & 1130 with minor resistances at 1123.20, 1132 & 1142.20.

The daily/weekly trend changer points are at 1077.50/1199.40.

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