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In the daily charts, the short term directional indicators are on the way lower at around the 40% mark now.
The medium term trending indicators have just breached back under the parity line which will put gold on a soft footing into the new year.
The long term directional indicators will not likely get its day in the sun anytime soon, with the prices there it is at right now.
In the weekly charts, the short term directional indicators are still north bearing and may need gold to close below 1050 before it starts showing any weakness.
The medium term trending indicator although it has crossed higher, can easily become unstuck and the soft bias prolonged.
The long term directional indicator almost crossed back higher but it was expertly withheld from doing that and so the weakness will likely linger and new lows maybe had after the New Year.
The momentum/volatility indicators for both the daily/weekly are at ultra low levels and any attempts either way might not yield too much depth and definitely no capricorn effect this year.
Interim supports are at 1063.50, 1058.50 & 1046.50 with minor supports at 1030.80, 1023.80 & 1019.50.
Interim resistances are at 1075.50, 1079 & 1094 with minor resistances at 1074.10, 1084.80 & 1123.20.
The daily/weekly trend changer points are at 1081.80/1125.25.
This is Mib Agenti's last report for 2015 and wishes A very Happy New Year to All.
Wishing Everybody Very Good Health, Good Luck, Abundant Wealth & May All your Desires Come True in 2016.
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The past few days, gold didn't have any significant highs attempted whilst positive bias were seen in most of the indicators.
As a result of which, some of these indicators have started to look heavy and might weigh down on any chances gold might have had at stabbing higher.
In the daily charts, the short term directional indicators gingerly missed touching and pushing through the overbought region such that, it is mid-way of turning lower again.
The medium term trending indicators have pushed above the parity line but making nothing of it, there are indications it might want to turn back lower again.
The long term directional indicators might actually have a chance to bring gold back well above 1100 if it manages to close above 1085 at the year's closing.
Is it going to be another case of "a miss is a good as a mile"?
The momentum/volatility here on looks like it's winding itself down for the year so if any moves comes, it will be erratic and likely be non sustainable.
Interim supports are at 1065, 1057.50 & 1048.50 with minor supports at 1030.80, 1023.80 & 1019.50.
Interim resistances are at 1076, 1082 & 1094 with minor resistances at 1074.10, 1084.80 & 1123.20.
The daily/weekly trending changer points are at 1082.50/1125.25.
Note - the daily point has been descending and soon might have a chance to be triggered, provided gold doesn't drift too low.
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In the daily charts, the short term directional indicators are experiencing some friction at the higher end and receded somewhat but still maintains it's positive poise but drifting too low from 1070 might cause it to turn the other way.
The medium term trending indicator is at the parity line and merely tickling it. A move higher can only be anticipated if it pulls above it convincingly.
The long term directional indicator is in a lull state and the momentum/volatility indicator are at really low levels and the hum can barely be heard.
In the weekly charts, the short term directional indicator has only begun on the upswing while the medium term trending indicator has become unstuck as gold is below 1075. The long term directional indicators still looks soft.
The momentum/volatility indicators is dredging the bottom.
Interim supports are at 1067.50, 1051.50 & 1048 with minor supports at 1030.80, 1023.80 & 1023.80.
Interim resistances are at 1083, 1119.50 & 1128.50 with minor resistances at 1074.10, 1084.80 & 1123.20.
The daily/weekly trend changer points are at 1085.50/1134.10.
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In the daily, the short term directional indicator looks a tad more positive and about two thirds done and likely to propel it higher.
The medium term trending indicators are testing parity.
If we somehow managed to push above there, the whole mood changes totally and we maybe in for a more merry mood going into the year's closing.
The long term directional indicators have gone into a comatose and will take some more time before it is able to sort itself out and a new directional discerned. In the weekly charts, the short term directional indicators are poised nicely and lifting off the lows and reached about 40% and still more room to ascend.
The medium term trending indicators with gold above 1175 at the week's ending, portends to more firmness going into next week.
The long term directional indicators remains negative and would take a herculean effort cancel it, let alone, turn it positive.
The momentum/volatility indicators for the daily/weekly are both at low levels and unlikely to be zooming anywhere anytime soon.
Interim supports are at 1068.40, 1051.20 & 1043.90 and minor supports at 1070.40, 1030.80 & 1023.80.
Interim resistances are at 1084, 1120.70 & 1128.80 with minor resistances at 1084.80, 1123.20 & 1132.
The daily/weekly trend changer point is at 1086.30/1134.10.
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It's good to be back home and no travel envisaged the last 2 weeks of year - hurrah.
In the daily charts, the short term directional indicators actually has a strong divergence forming on it when it dipped below 1050.
It should hold it in good stead to poke higher over the next 2 weeks.
The medium term trending indicators has an even stronger divergence.
Finally, the long term directional indicators are being lulled into remission for now.
The volatility/momentum indicators has little substance.In the weekly charts, the short term directional indicators has finally turned up for now and could be basis for gold to hold and remain firm hereon, lasting till January.
Crucial psychological support at 1050, so as long as there isn't any closing under it, will continue to be a notable benchmark.
The medium term trending indicators have almost crossed swords with each other and once it does, might see gold testing back to 1130.
The long term directional indicators bearish bias have not beennullified yet and certainly make pushing too high very laboured and failure will see it drop like a rock.
Interim supports are at 1067, 1052.50 & 1048.50 with minor supports at 1030.80, 1023.80 & 1019.50.
Interim resistances are at 1082, 1086.50 & 1113 with minor resistances at 1074.10, 1084.80 & 1123.20.
The daily/weekly trend changer points are at 1087.10/1134.10.
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Gold has recovered nicely off the lows and hopefully the daily trend changer point, sitting pretty at 1081.70, is triggered today and some respite can be had from the lows for the remainder of the year.
Let it not be another near-miss again as the whole year has only been filled with them.
In the daily charts, the short term directional indicators righted itself and with the divergence in it, might just be sufficient fuel to propel it towards 1100.
The medium term trending indicators is in the same direction as the former and looks set to have a nice rebound.
The longer term directional indicators are almost colliding and with gold where it is, it might have crossed over now and the bearish bias will likely be nullified.
The weekly charts are creatures of a different nature like it was in a time warp and times shape up accordingly at its own timing.
The short term directional indicators has gone 30% deep into the oversold zone and hopefully with gold where it is, is sufficient to effect a recovery out of the zone.
The medium term trending indicators remain staunchly negative while the longer term directional indicators look unmoved.
It is only with today's closing that we can see the effect of the week's session next week, after it's set in stone.
The momentum/volatility indicators in both intervals are still lacking oomph as it has not built up sufficiently to see any major move, either ways.
Interim supports are at 1078.50, 1065.50 & 1052 with minor supports at 1070.40, 1030.80 & 1023.80.
Interim resistances are at 1093, 1112.50 & 1117 with minor resistances at 1123.20, 1132 & 1142.20.
The weekly trend changer point is at 1166.85.
p.s. Mib Agenti is away for 2 weeks and may provide interim reports if time allows.
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With the momentum/volatility indicators are barely audible levels, gold is frustrated and unable to push too far either ways.
Gold was sold down below the psychological 1050 earlier, what some would deem as a false penetration and as a result, rebounded off there nicely.
In the daily charts, the short term trending indicators look coiled up and congested and the current turning lower looks too forced.
Failure to make it close below key 1050 may set it for some rebound later on.
The medium term trending indicators also look artificially tweaked to look and feel softer.
Any lack of a good follow through could send gold back towards 1085.
The long term directional indicators had actually been more or less nullified but with the previous day's movement had reopened the trend again, albeit, just on the tenterhooks, that is, it might be on the verge of a new breakout if the gap widens.
The momentum/volatility indicator's mounting pressure is just on the verge of overrunning the floodgate, just a little more push (in this instance - downwards) could see it race towards 1000 in quick succession.
Generally, in the weekly charts, everything is still looking on the soft side and the short term directional indicators has freshly penetrated the oversold region while the momentum/volatility indicators are merely murmuring and will need gold to quickly crack 1000 before it is turned on.
Interim supports are at 1047.50, 1037 & 1031.50 with minor supports at 1030.80, 1023.80 & 1019.50.
Interim resistances are at 1064.50, 1081.50 & 1090 with minor resistances at 1074.10, 1084.80 & 1123.20.
The daily/weekly trend changer points are at 1084/1166.85.
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As news of CNY's inclusion in IMF's currency basket dissipates, the initial rush has now deadened and gold is back to previous lacklustre performance.
In the daily charts, the short term directional indicators with the gold prices at such levels now, are trying hard to keep it's earlier edge with possibly as stiff an upper back as possible.
With luck, a closing above 1065 will keep it looking positive.
The medium term trending indicators looks a little heavy right now and if we lose holding recent lows, could see extend to 1030 at the least.
On the other side, failure to crack the lows could also mean a long drawn divergence in the making.
The long term directional indicators have mostly been smothered and corrections and some consolidation might ensue before the next direction becomes apparent.
The volatility/momentum indicators are still muted and no indications that the softness has concluded.
Interim supports are at 1055, 1046 & 1039.50 with minor supports at 1030.80, 1023.80 & 1019.50.
Interim resistances are at 1069, 1080 & 1094 with minor resistances at 1074.10, 1084.80 & 1123.20.
The daily/weekly trend changer points are at 1085.35/1116.85. A pity the high attempt yesterday didn't trigger off the daily point.
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In the daily charts, the short term direction indicators fought back the weakness of the previous day and righted itself and back on track for gold to plod higher if it maintains above 1065 till the week's closing.
The medium term trending indicators are showing more promise than it did just a day ago as the steepness of the gradient pushing it higher increased and does not look it is faltering now.
The long term trending indicators have it's parachute brakes open and the move lower looks completed for now and usually, some recovery maybe the next order of things.
In the weekly charts, the short term directional indicators had protruded briefly into the overdone zone and may take 3 weeks before it can stabilise or can the move complete.
The medium term trending indicators' descent gradient is tapering a little and if it is able to fend the lows, might see it recover before long.
The long term directional indicators are still bearing southwards and would take extreme efforts just to avert the softness and maybe 3 to 4 months time in order to do so.
The momentum/volatility indicators in both are still in an impotent state and prices may not run too wildly and move more measuredly.
Interim supports are at 1057.50, 1047.50 & 1040.50 with minor supports at 1030.80, 1023.80 & 1019.50.
Interim resistances are at 1070, 1084.50 & 1094 with minor 1170.20, 1177.20 & 1183.50.
The daily/weekly trend changer points are at 1086.05/1166.85.
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