Gold Trends (29 April 2016) - Updates of Mib Agenti

Finally, somebody decided to throw in his lot and secured gold’s closing above 1260’s. 

That’s the cue to suggest market has more attitude than just flip flopping around. 

In the daily charts, the short term directional indicators have pushed back higher and well above the 50% mark and with some leeway before it becomes overbought. 

So, we might have a chance to poke to at least 1300 before the week’s out. The medium term trending indicators are pulling nicely away from the parity line and only a third of the height compared to the previous peak in this indicator. 

As this is a stronger indicator and if only going on this indicator by itself, then interpolating the previous peak to current levels, could see gold coasting to 1400 levels but in reality, a myriad of other indicators are interlaced into each other .  

The long term directional indicators have finally confirmed a cutting up for the higher. 

The momentum/volatility indicators have finally revved up two notches but the brake pedal is still depressed. 

So we just have to let it loose and it ought to rip ahead.

Interim supports are at 1279.50, 1276.50 & 1262 with minor supports at 1256.50, 1239.30 & 1228.

Interim resistances are at 1286, 1289 & 1301 with minor resistances at 1291.40, 1305.90 & 1307.50.

The daily/weekly trend changer points are at 1227.80/1196.70.

Note: The daily trend changer point was triggered in Asia today.

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Gold Trends (28 April 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are in a mini coup with gold prices trekking above 1250’s at the moment. 

It has managed just the tiniest reversal at the moment and plenty of exploratory room if it wanted. 

The medium term trending indicators has managed to do a somersault as well and just pushing off the parity line and trying to get some distance from it. 

As it is just off the parity line and if the attempt is successful and in line with the market consensus, there will be huge upside potential in the coming week or two. 

The long term directional indicators are to force a confirmed signal for upside bias but will need to close above 1260 today. 

The momentum/volatility indicators are all still at levels that are as unexciting as watching a snail crawling by and a dash of news now is required to help it turn 2 notches higher to achieve higher bench marks and hopefully a good closing to trigger off a sustained rally to at least 1320.

Interim supports are at 1244.50, 1233 & 1227 with minor supports at 1239.30, 1228 & 1218.40.

Interim resistances are at 1260, 1270.50 & 1290.50 with minor resistances at 1268.30, 1272.70 & 1277.30.

The daily/weekly trend changer points are at 1267.60/1196.70,

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Gold Trends (27 April 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are inching towards the 30% mark and it remains downwards sloping. 

However gold did not go lower but in fact, pared losses and if it pushes above 1255 at the closing, might in fact cause the indicators to go into a recovery phase. 

The medium term trending indicators are dribbling the parity line right now.  

The next major news (FOMC) will decide if we bounce or sink. 

Either way, the move could be worth $30 either ways. The long term directional indicators are caught thick in the middle and will take more time before a fresh direction emerges. 

The momentum/volatility indicators are totally void of the likelihood of a good move any time soon. 

So woe be to us and hopefully the longs don’t start to panic and reduce their exposures at every rally.

Interim supports are at 1241, 1238.50 & 1230.50 with minor supports at 1239.30, 1228 & 1218.40.

Interim resistances are at 1254, 1258.50 & 1266 with minor resistances at 1251.70, 1268.30 & 1272.70.

The daily/weekly trend changer points are at 1268.40/1196.70.

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Gold Trends (25 April 2016) - Updates of Mib Agenti

An urgent matter required my close supervision last week and it took a week to smoothen some ruffled feathers. 

All smooth now and only just reached home, trading would have been fun as gold had its highlights which removed all traces of dullness earlier part of last week.  

However, in the same form of the earlier weeks, gold lost its nerve and unable to close above a key resistance situated very near 1260’s levels. 

In the daily charts, the short term directional indicators are around the 43% level and bearing lower at the moment. 

The medium term trending indicators are sweeter, just caressing the parity line and bearing lower as well but not yet penetrated below. 

The long term directional indicators will need 2 weeks before the next directional becomes apparent. 

The momentum/volatility indicators have cooled off very quickly this round and almost gone into a chill mood. 

We certainly need some zest in order to rattle it either way and hopefully it comes sooner than later or we all might just fall asleep watching it range.

Interim supports are at 1228, 1222.50 & 1210.50 with minor supports at 1228, 1218.40 & 1208.80.

Interim resistances are at 1253.50, 1257.20 & 1264.50 with minor resistances at 1242, 1251.70 & 1268.30.

The daily/weekly trend changer points are at 1270.10/1196.70.

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Gold Trends (15 April 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators have dribbled back to 50% mark. 

It feels like a wastrel at work as gold didn’t take advantage of the fact that the indicator was cascading right from the peak to reap some good moves lower. 

The medium term trending indicators have curved nicely lower and just connecting to the parity line. 

It will remain skittish, maybe even coy as it attempts to try to effect a confirmation of a closing below the parity line and indicate lower supports maybe attempted later on. 

Anyway, it is apparent that a divergence has formed from the prior attempts at the recent highs but what it makes or doesn’t make anything of it, will unfold in the coming weeks. 

The long term directional indicators have gone into standby mode. So it is unlikely to see fresh cues for at least 2 more weeks. 

The momentum/volatility indicators are disappointing as it has gone 2 rungs lower.  

So we may see gold stuck in recent ranges for some more time. 

Hopefully the longs don’t get frustrated that it is not getting any higher and try being a wise guy and start unwinding it’s exposures. 

That will certainly excite the market and others may start joining in and may depress gold to whence it rose from.

Interim supports are at 1223.50, 1214.50 & 1206 with minor supports at 1224.10, 1218.40 & 1208.80.

Interim resistances are at 1235.50, 1238.50 & 1257 with minor resistances at 1232, 1238 & 1251.70.

The daily/weekly trend changer points are at 1220.15/1176.60.

Note:- The daily point is almost within grasp and a pity if it didn’t even try to trigger that off.

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Gold Trends (14 April 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators were not able to resist the wave of selling as the dollar turned higher in Asia. 

The indicators have now done an about turn and breaking back below the overbought zone. 

So if gold decides to “crash”, this indicator is at such a height it will provide good yardage and might see gold back around 1200 levels if the rhythm is not disturbed by fresh news. 

The medium term trending indicators has converged and a new trend will be set if gold manages to close below 1230. 

The long term directional indicators which were mish mashing and had a flicker of a chance to help gold reap some gains has now gone into limbo. 

It will take a week or two before it can be unencumbered and signs of a new direction emerge. 

The momentum/volatility indicators have started decelerating and some early signs indicating that we may be entering a consolidation phase soon.

Interim supports are at 1226, 1211.50 & 1205.50 with minor supports at 1228, 1218.40 & 1208.80.

Interim resistances are at 1236.50, 1241 & 1264.50 with minor resistances at 1238, 1251.70 & 1268.30.

The daily/weekly trend changer points are at 1217.40/1176.80.

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Gold Trends (13 April 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are in the overbought zone but losing steepness and looks like it is almost on the verge of veering. 

That is, if the longs are too nervous to continue holding on and too much profit taking occurs. 

So let us hope gold manages to cling on to the higher side of the spectrum, till the next spate of bad news comes out. 

The medium term trending indicators are suffering from the recent softness and a crook is forming but is unconfirmed, with the gold at current levels. 

To straighten it out, gold needs to close back above the 1255 to prevent it from incriminating itself “brocard nemo tenetur se ipsum accusare”. 

The long term directional indicators are still gelled together and having no clear victor at the moment, needs gold to close above 1265 before it becomes apparent or, point blank. 

Notably however, in pure technical terms, the cutting up – upward bias was confirmed last night but could easily be undone with the overnight weakness. 

The momentum/volatility indicators are back to a hum drum mode. Just as quickly as the slightly upward bias that was showing, has almost started turning back.

Interim supports are at 1242, 1237 & 1227.50 with minor supports at 1239.30, 1228 & 1218.40.

Interim resistances are at 1258.50, 1265.50 & 1286 with minor resistances at 1251.70, 1268.30 & 1272.70.

The daily/weekly trend changer points are at 1214.50/1176.60.

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Gold Trends (12 April 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators just barely lifted its chin into the overbought zone. 

However, the big rush is absent at the moment, with the market devoid of any fresh news/impetus.  

However, all the earlier news was milked for every ounce for the play higher and it will be sad it fades into nothingness and paddle back lower for now. 

The medium term trending indicators has firmly penetrated above the parity line but a lack of follow through is making for nervous longs as gold nears its recent highs. 

So we might see some pitter pattering before a fresh gust finally sets it up for the next good move. 

The long term directional indicators are mashed together and still unable to separate so the signal is unconfirmed, albeit it is generally pointing to the higher side.  

Gold needs a closing above 1264 in order for it to confirm and bring 1285 into contention. 

Recollecting similar past scenarios, the indicators could be mashed together for 1 week or more without being confirmed until signal failure and traded the other way due to trend fatigue.

Interim supports are at 1241.50, 1235 & 1230 with minor supports at 1239.30, 1228 & 1218.40.

Interim resistances are at 1260, 1263.50 & 1270.50 with minor resistances at 1268.30, 1272.70 & 1278.30.

The daily/weekly trend changer points are at 1211.50/1176.60.

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Gold Trends (11 April 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators will likely reach the lower boundary of the overbought zone in a day or two.  

So depending on the force behind the move, if it is powerful enough, then we might push towards 1280 at the least and if it is not, then it will be toppish around 1264 levels. 

The medium term trending indicators have finally pushed past the parity line but it is a must for gold to close at least 1250 today as last week’s closing was just below 1240 levels in order to confirm the penetration of the parity line. 

Once it is confirmed, opens up the potential for more upside forays or at the worst, maintain nearer to the higher end of the recent range. 

The long term directional indicators are almost on the verge of cutting up again and may need a day or two to confirm it. 

However, it does need gold to close at least 1260 today in order to do so and speed is of the essence to confirmation. 

If it takes a week to do it, then the effect of moving higher is lost and indicators might not confirm. 

The momentum/volatility indicators’ vigour is renewed and ascending towards the 30% mark as fresh impetus and undercurrents are apparent and need it to stir up more investment interests.

Interim supports are at 1251, 1237.50 & 1230 with minor supports at 1254.80, 1239.30 & 1228.

Interim resistances are at 1259, 1267.50 & 1287 with minor resistances at 1268.30, 1272.70 & 1277.30.

The daily/weekly trend changer points are at 1209.50/1176.50.

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Gold Trends (8 April 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are sprouting new shoots northwards and around the 55% mark. 

What it makes of that, depends on the next batch of news that comes up and if the news dries up, the possibly gravity might pull it back lower. 

The medium term trending indicators are tickling the zero line from the bottom and need gold to at least close above 1245 before it can push past and secure the parity line. 

Once that’s done we might have a go at above 1300 - hopefully.

The long term directional indicators are still looking for a way out of the clutter and with gold keeping above 1230 for another week, might just be enough to alter it’s earlier direction. 

It is early yet and so patience is required to wait out the outcome of it’s meandering and not turn out to be another decoy. 

The momentum/volatility is still losing strength, albeit with a slight upward bias but this can be easily overturned if sufficient force comes in from the opposite direction.

Interim supports are at 1230.40, 1221.30 & 1212 with minor supports at 1228, 1218.40 & 1208.80.

Interim resistances are at 1246.40, 1257.40 & 1264.70 with minor resistances at 1240.70, 1251.70 & 1268.30.

The daily/weekly trend changer points are at 1208.80/1164.80.

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Gold Trends (7 April 2016) - Updates of Mib Agenti

Just back from an unplanned urgent trip - c'est la vie. 

The market sure has been whippy, pulled in opposing directions every time there were "fresh" old news in the market just about every other day. In the daily charts, the short term directional indicators are doodling around the 50%, cris-crossing each other everyday. 

The medium term trending indicators have managed to recover into the positive territory albeit, still below the parity line. 

It will be nice if it manages to overcome and close above the parity line. That will definitely add a new scope and dimension than the current boxed range. 

The long term directional indicators have gone into remission and it will be at least a week and a half before a new direction will emerge at the earliest. 

The momentum/volatility indicators are holding around the 30% mark with a slight upward bias. 

It will be particularly good if it manages to run to 1300 and close above that and the indicators will have revved up to at least 50% mark and good enough for runs above there with more sustaining power.

Interim supports are at 1236, 1228 & 1221 with minor supports at 1226.10, 1218.40 & 1208.80.

Interim resistances are at 1243.50, 1257.50 & 1265 with minor resistances at 1251.70, 1268.30 & 1272.70.

The daily/weekly trend changer points are at 1208.15/1164.80 with the daily point freshly overturned earlier in the week.

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Gold Trends (01 April 2016) - Updates of Mib Agenti

With the release of the NFP figures, a marked improvement of around 11%, caused a slam dunk in gold prices earlier. 

Whether or not it will sink or swim, will hinge on Mester's speech later on. In the daily charts the short term directional indicators were showing signs of crooking - charts were obtained at London opening. 

However with prices where they are now and if it manages to close near the day's low, then for sure the indicators would have bent backwards and southward bearing. 

The medium term trending indicators which were poised for a push higher (at London opening) will likely have collapsed upon itself and tripping around it's ankles. 

The long term directional indicators which were floundering might be revived with bearish bias if gold closes below 1210. 

The momentum/volatility indicators were down 2 notches at London opening but likely push back up a notch now. 

However, the engines behind the market have not revved up sufficiently for the market to run too far away and it will not be a surprise if market closes back around the 1220 level for the week's end.

Interim supports are at 1206, 1190 & 1181 with minor supports at 1208.80, 1200.10 & 1178.60.

Interim resistances are at 1219, 1230 & 1249.50 with minor resistances at 1221.70, 1231.40 & 1240.70.

The daily/weekly trend changer points are at 1249.95/1151.75.

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