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

Duty called me from the thick of action and I missed all the action and looks set to continue missing it for another 3 weeks at the least. 

In the daily charts, the short term directional indicators had initially pushed above the overbought zone by a wide margin but with the weakness, have now been pushed back below the zone and touching the 70% level now. 

The medium term trending indicators are starting to look a little heavy and will peak soon enough the longer it strays and stays away from the recent highs.  

The long term directional indicators are still pressing on. So gold will likely continue keep trying to press higher or keeping to the higher side. 

However of late, most of the big moves came on the back of news so in all likelihood, gold will have a new burst of life when the next big news hit. 

The momentum/volatility indicators were climbing nicely but hit a road bump which has somewhat put it back a notch or two. 

Hopefully we are able to overcome it and surpass and push even higher.

Interim supports are at 1275.50, 1263 & 1259 with minor supports at 1278, 1270.60 & 1267.20.

Interim resistances are at 1303.50, 1307 & 1315 with minor resistances at 1305.90, 1316 & 1352.

The daily/weekly trend changer points are at 1258.40/1199.60.

ps. Mib Agenti will be away for another 3 weeks.

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

In the daily charts the short term directional indicators have almost come into the overbought zone but falling short.  

In fact, strength seems to be seeping as the march upwards looks like it’s facing a lot of headwind at the moment and maybe, it will not reach the overbought zone before attempting to bend back lower. 

The medium term trending indicators have almost caught up to the parity line so now comes the toughie, are we going to break through and close above the parity line or fall back from here? 

We need gold to close above 1250 in order to do that and falling short, gold will likely fall back first. 

The long term directional indicators are negated and right plonk in the middle of the miasma that it needs to navigate before a new direction become imminent. 

If the market continues being tied tether around here, even 2 weeks might not be sufficient to get a clear direction. 

The momentum/volatility indicators are equally depressing as it is diving to much lower levels for now. 

The earlier and freshly etched positive bias is not growing deeper and remains weak at the moment as it could well head back the other way.

Interim supports are at 1236, 1232 & 1222.50 with minor supports at 1239.30, 1228 & 1218.40.

Interim resistances are at 1244.50, 1252.50 & 1258.50 with minor resistances at 1251.70, 1268.30 & 1272.70.

The daily/weekly trend changer points are at 1202.40/1297.60

Mib Agenti will be away for the rest of the week.

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Gold Trends (6 June 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators have come nicely higher and just around the 60% mark.  

It could possibly touch the overbought zone in about 3 more days. 

The medium term trending indicators are pulling up strongly and just about 2 steps away from the parity line. 

The long term directional indicators have now negated the earlier bearish bias. 

It will take some time before it re-synchronises itself and the new trend apparent. 

Probably gold needs to be kept engaged near the higher end till the week’s ending at the earliest, and we might get a confirmed signal for more upside forays. 

The momentum/volatility indicators are, believe it or not, still lackadaisical and needs to be turned up at least 3 notches before it starts to stir. 

However, the earlier softness in this technical is totally eradicated and if it must continue widening the gap, will put it in good stead for some chest thumping times higher.

Interim supports are at 1228.50, 1220.50 & 1207 with minor supports at 1239.30, 1228 & 1218.40.

Interim resistances are at 1252.50, 1258 & 1283 with minor resistances at 1251.70, 1268.30 & 1272.70.

The daily/weekly trend changer points are at 1200.50/1297.60.

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Gold Trends (3 June 2016) - Updates of Mib Agenti

Finally gold decided to show what it is made of. 

In one fell swoop, it just leapt to test above 1242. 

My charts are static, copied out from reuters 6 hours ago so those are irrelevant now. 

With less than ideal web charts, I will endeavour anyway with whatever resources is available. 

In the daily charts, the short term directional indicators have risen higher and almost touching the 48% mark. 

The medium term trending indicators confirmation has deepened and pulling towards the parity line and looks good to continue heading there for now. 

The long term directional indicators have been negated with gold above 1230 but, will it still be above that at the closing as that will confirm the negation, or not.  

The momentum/volatility indicators is sadly something is not available on web based charts but soft bias would likely now be almost compromised or already compromised if gold manage to close above 1240.

Interim supports are at 1238, 1228 & 1217.50 with minor supports at 1239.30, 1226.10 & 1215.

Interim resistances are at 1248.50, 1255 & 1293 with minor resistances at 1251.70, 1268.30 & 1272.70.

The daily trend changer point was initially at 1236.60 was triggered earlier and where it is now, I can’t confirm. 

The weekly trend changer point is at 1303.60.

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Gold Trends (2 June 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are pushing towards the 30% mark. 

However relative to the gold price, which has not caught to the movement as in the indicator, gold is still flaccid and a backbone is yet to grow out of it as it as it remains still slightly nearer the lows than away from it. 

The medium term trending indicators managed to confirm cutting back higher and it’s coming from a very deep valley. 

This opens up the upside for some serious play ahead. 

However, all of that may come to naught if gold totally dismisses the signal generated and languishes just around here. 

The long term directional indicators are finally waning and to cancel the soft signals, it needs gold to push back above 1230 by the middle of next week. 

The momentum/volatility indicators have dropped 2 notches lower but the soft bias is still nowhere to being compromised and overhangs like a cloudy day.

Interim supports are at 1201, 1196 & 1188.50 with minor supports at 1208.80, 1200.10 & 1178.60.

Interim resistances are at 1220.50, 1239 & 1243.50 with minor resistances at 1218.50, 1231.40 & 1240.70.

The daily/weekly trend changer points are at 1242.65/1303.60.

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Gold Trends (1 June 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are finally taking some heat off the recent decline and just started pushing away from the oversold zone. 

So it is looking mildly positive at the moment and hopefully be able to lift clear off and recover back to at least 1235 and make good use of this and not be a wasted opportunity. 

The medium term trending indicators had a sharp turn around but is very near to being confirmed.  

It just needs gold to move and close back above 1225 and it’s a done deal. 

If it’s endeavour is successful, that could mean gold testing back to 1250 in the next week or two. 

The long term directional indicators are continuing to taper slightly further with each passing day with recent lows not breached but remain cautiously on the softer side. 

Gold needs to just guard the recent lows for at least 2 to 3 weeks and the indicators will likely be poised for having a break back higher. 

The momentum/volatility indicators are ebbing but the bearish stance has not yet been overwhelmed and likely be like a dark cloud, ready to pour when it starts raining but nothing doing until it does.

Interim supports are at 1201.50, 1194 & 1188.50 with minor supports at 1212.60, 1208.80 & 1200.10.

Interim resistances are at 1223, 1239.50 & 1249 with minor resistances at 1222, 1231.40 & 1238.

The daily/weekly trend changer points are at 1249.65/1303.60.

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