Gold Trends (31 October 2016) - Updates of Mib Agenti

On Friday, gold made a last ditch attempt to push higher but didn’t manage to close at the highs. 

In normal circumstances in such scenario, gold ought to be softer for the next week or so. 

In the daily charts, the short term directional indicators are southerly facing but could be in the early stages of trying to level off, maybe in the hope of pushing off higher from here. 

Even if it were successful, the current levels now are already so near to the overbought zone, any attempts could see it hit the overbought region in one move and it could be over. 

The medium term trending indicators are looking very nice and steepened again, pushing a little higher and piercing the parity line from below. 

Usually the market will be dribbling when challenging the parity line before proceeding on original path. 

The long term directional indicators have somehow managed to make up for some lost gusto and tangled with the other indicators at the bottom. 

However, a confirmation of the new direction has yet to materialize but if it did and especially if there were follow through trading, then it is poised to be headed higher. 

The momentum/directional indicators are like a gentle summer breeze, not strong enough to stir up anything. 

However, as indicated in earlier sessions, something was moving in the undercurrents and that was translated in last Friday’s move. 

Just as well, the bearish bias has been eradicated and has now become positive but the question is, for how long?

Interim supports are at 1270, 1261 & 1250.50 with minor supports at 1270.60, 1267.20 & 1260.60.

Interim resistances are at 1276, 1284 & 1290.50 with minor resistances at 1277.30, 1280.40 & 1291.40.

The daily/weekly trend changer points are at 1353.45/1364.55.

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

In the daily charts, the short term directional indicators are now firmly turned down and the indicators could be weighing down on gold prices till at least the middle of next week. 

If these indicators take the lead, could mean gold could be testing to at least 1250 soon. 

The medium term trending indicators have stopped accelerating higher now and a turning is being engineered right now but a confirmation is at least 2 days away. 

The long term directional indicators have missed its chances to confirm a cut up from below as gold did not teeter itself nearer the recent highs nor push it.  

So the gap is widening now and gold could be in for more range bound trading in the following week. 

The momentum/volatility indicators are have lost all perspective and gone into just humming along for now and gold is unlikely to move out of its recent ranges, albeit still with a tinge of negative sensation.

Interim supports are at 1266.50, 1260.80 & 1249 with minor supports at 1260.60, 1254.80 & 1239.30.

Interim resistances are at 1273, 1282.30 & 1294.90 with minor resistances at 1277.30, 1280.40 & 1291.40.

The daily/weekly trend changer points are at 1250.80/1367.05.

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

In the daily charts, the short term directional indicators have turned lower now as gold didn’t manage to keep nearer to the higher end of the recent ranges and over a period of time, that weighed down on itself. 

The medium term trending indicators are tapering off just as it nears the parity line and does not look like the parity line will be challenged on this run. 

Failing which, could send gold back to 1250’s levels. 

The long term directional indicators are just on the verge of confirming a cutting up from below but with gold at its current levels, will be more difficult to see that happening now. 

This is termed near misses or signal failure. 

It has just one more day before it will likely be written off, so we just hope, it makes something of these nice looking indicators and break out of the current stifling ranges. 

The momentum/volatility indicators continue to dwindle lower but are getting less negative by the day. 

It could be some undercurrents in the market swaying it just beneath the surface so time will tell.

Interim supports are at 1265.50, 1256 & 1249.50 with minor supports at 1260.60, 1256.50 & 1239.30.

Interim resistances are at 1275, 1282.50 & 1295.50 with minor resistances at 1272.70, 1277.30 & 1280.40.

The daily/weekly trend changer points are at 1249.15/1367.05.

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Gold Trends (26 October 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are starting to weigh down upon itself as it struggles to push and hold above 1275. 

In fact, if it closes below 1270’s signals that maybe a top is in place for now and these indicators may initiate a turning down from here. 

The medium term trending indicators are so close to the parity line but looks like it is faltering and it might not get a chance to chafe it before dribbling back lower. 

If the turning is successful here, gold may a chance to push back to 1250 levels. 

The long term directional indicators are 2 days away from being confirmed with upside bias, that is, gold needs to push towards 1280 and close above that. 

Looking leaden here, gold might completely give this a miss but one can never rule out any geopolitical tensions/situations catalyzing it higher. 

The momentum/volatility indicators are still losing steam but negativity/positivity is remaining status quo for now and could be setting for an erratic and whippy move.

Interim supports are at 1267.50, 1261.50 & 1250.50 with minor supports at 1267.20, 1260.60 & 1256.50.

Interim resistances are at 1279, 1285.50 & 1295.50 with minor resistances at 1278.30, 1280.40 & 1291.40.

The daily/weekly trend changer points are at 1247.40/1367.05.

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

My work week has been an extraordinarily long one stretching some 16 days and still ongoing before I can get a little break this coming weekend. 

However, I am glad to be home now and again able to monitor up close the hustings in the gold prices. 

In the daily charts, the short term directional indicators have pulled to near the overbought region with a dash of weariness as gold refuses to push pass the 1275 area. 

It is crucial for gold to push pass and hold this level to have these indicators to at least have a chance of pushing into the overbought zone. 

The medium term directional indicators are looking neat, clean and tidy with little jarring and are still some way off from the parity line and if the market favours more upside, this is easily attained and could see it through till the end of the week. 

Not pushing higher is not an option and that will spell a turning soon after. 

The long term directional indicators have settled down and content to remain in the middle as it watches the next moves eagerly. 

Perchance if gold pushes and holds above the 1285, there is a good chance these indicators will likely cut and open up the higher ranges again, perhaps to 1300. 

The momentum/volatility indicators have only been receding steadily since the recent lows were made and they are back to just humming rather than zooming around. 

However, the negative bias is maintaining but the gap has narrowed with a chance of crossing back over if it moves sufficiently.

Interim supports are at 1265, 1261 & 1250 with minor supports at 1267.20, 1260.60 & 1256.50.

Interim resistances are at 1274, 1285 & 1295.50 with minor resistances at 1277.30, 1280.40 & 1291.40.

The daily/weekly trend changer points are at 1245.50/1367.05.

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

In the daily charts, the short term directional indicators are pushing nearer to the 40% mark but a tinge of weakness has started showing just at the tip as the gradient is waning just as gold is softer today. 

However, the trend is maintaining for now and with the likelihood of some major geopolitical tensions or news that will upset it. 

The medium term trending indicators are firming up nicely and looking like a text book example of a trend change and if gold decides to run with this, it has a long way to go up. 

The long term directional indicators run lower have almost finished its run as new lows are not being made. 

Very likely, the negative signal will be voided by the middle of next week. 

The momentum/volatility indicators are receding at an even pace so gold will be trading evenly and no explosive movement unless the unpredictable eventualities occur. 

The negative gap is also getting narrower but is still far from conversion yet as that is still many days away.

Interim supports are at 1248, 1246 & 1259.50 with minor supports at 1239.30, 1228 & 1219.40.

Interim resistances are at 1258.50, 1263.50 & 1268.50 with minor resistances at 1268.30, 1272.70 & 1280.40.

The daily/weekly trend changer points are at 1282.30/1372.25.

Note: Mib updated that he is travelling to attend the LBMA Conference so no updates for a week.

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

In the daily charts, the short term directional indicators have climbed back up to around the 40% mark whereas gold did not register a similar move. 

With it looking a lot better than just 2 days back, hopefully as it tries to reach the overbought zone, gold is able to ride on it and reach at least 1285 levels. 

The medium term trending indicators are cutting up nicely now and if it is a good turning, gold has a lot of yardage to the parity line and should keep gold nippy leaning more on the upper side. 

The long term directional indicators is still overall in charge of the market right now but without new low seen this week, makes it difficult for these set of indicators to continue to rule and it will be passe as early as the middle of next week. 

After that happens, these indicators will stagnate for some time, usually a month after a major move before signals of the new trend is apparent. 

The momentum/volatility indicators are ebbing too slowly at the moment just as it is getting less negative. 

So the minute gravity finally kicks in, it will be pulled back earthwards and there could be a quick drop then. 

That could translate to gold having a “major” move at that time and may seem irrational to the untrained eye.

Interim supports are at 1251.50, 1247.50 & 1230 with minor supports at 1239.30, 1228 & 1218.40.

Interim resistances are at 1260, 1265 & 1272.50 with interim resistances at 1268.30, 1272.70 & 1280.40.

The daily/weekly trend changer points are at 1287.90/1372.25.

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

In the daily charts, the short term directional indicators have partially pushed itself out of the oversold region now around the 25% level. 

If gold continues to hold above the 1250’s at least, then, we may see gold attempt to close back higher towards the 1275 by the week’s end. 

The medium term trending indicators are in the middle of doing a nicely formed somersault but remain unconfirmed at the moment. 

If it manages to cut and confirm in the next day or two, could potentially see it starting to keep away from the recent lows for the next 10 days. 

Whether gold finally runs higher depends on host of other indicators. 

The long term directional indicators are inclined downwards and may need another week to be negated. 

After that, gold will likely go into a stasis for at least a month. 

The momentum/volatility indicators are sadly not able to capitalize on the recent sell off to bring it to a boiling point. 

It is like an engine having 3 valves but with only 1 of them pumping vigorously with the other 2 just cruising by and likely to be a drag on the overall performance. 

The negative bias is also starting to become more positive as gold manages to hold above recent lows.

Interim supports are at 1249, 1246.50 & 1224.50 with minor supports at 1239.30, 1228 & 1219.40.

Interim resistances are at 1259.50, 1271 & 1281 with minor resistances at 1268.30, 1277.30 & 1280.40.

The daily/weekly trend changer points are at 1294.25/1372.25.

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

In the daily charts, the short term directional indicators are pulling back higher but still have yet to exit the oversold region. 

If it somehow turns from here and back lower, gold is in for another round down. 

However due to the already low level of this indicator, it might not get too heated up and may not yield a good run lower and the previous low should underpin the market under normal market conditions. 

So it is a good idea to keep one’s eyes peeled for anything otherworldly happening and be quick to react. 

The medium term trending indicators have now developed a lovely looking hook up and it will really need a big price impact to dislodge that and straighten it out in order to continue lower and that vaguely looks very distant now. 

The long term directional indicators is about a week away from neutralizing the current weakness if no fresh attempts are made at the low end and gold stays above 1260 during this period. 

The momentum/volatility indicators picked up 0.5% since the day before and the other 2 lines are still trying to reach the overheated zone with the farther away one still 50% away from its current level. 

The negative bias has also not become more positive, but remaining at yesterday’s level.

Interim supports are at 1249, 1246.50 & 1224.50 with minor supports at 1239.30, 1228 & 1219.40.

Interim resistances are at 1259.50, 1272 & 1278.50 with minor resistances at 1268.30, 1272.70 & 1280.40.

The daily/weekly trend changer points are at 1305.10/1372.25.

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Gold Trends (10 October 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are sparing no effort to pull up from below by sheer force during Friday’s closing. 

To that, it has some success in that, the kink has now become a nicely formed crook. 

If it manages to build on the early success, then it needs to quickly propel out of the oversold region and it will stand a good chance for testing higher, later in the week. 

The medium term trending indicators are also trying to get out of the tailspin and the tiniest of a kink, is barely noticeable until extreme magnification is applied, is starting to form. 

If recent lows are not tested in the next 2 days, then, a recovery of sorts will be in progress and that could see gold push back towards at least 1285 and maybe even 1300 if pent up demand and market chasers get in on the act. 

The long term directional indicators are freefalling and not in tandem with actual price movement and it will be at least a week before the bias can be negated and resynchronizes with the actual gold prices. 

The momentum/volatility indicators may have run its course for now until something reignites its passion and another dive will be in the making. 

These set of indicators have three legs but with only one leg warmed up and running well ahead of the other 2 legs, will only be a matter of time it stumbles and this is what looks likely to happen here. 

The bearish signal is retracting ever so slightly with the lessening negativity.

Interim supports are at 1253, 1248 & 1230 with minor supports at 1256.50, 1239.30 & 1228.

Interim resistances are at 1273.50, 1278 & 1286.50 with minor resistances at 1268.30, 1272.70 & 1278.30.

The daily/weekly trend changer points are at 1309.70/1372.25.

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Gold Trends (07 October 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators showing a little rigidity today and having the slightest sign of a kink in the making. 

However, a kink does not confirm that the direction has changed. 

Just some retardation to the direction but if the friction is too great, then, there is a possibility of the direction change happening. 

So able to close above 1250 this day is crucial to have some chance of being nearer to a direction change and the further from 1250, the better the chances. 

The medium term trending indicators are really low and looking like it’s pushing on the cement floor. 

A huge force now is required to pummel it through and send gold further down with renewed vengeance. 

The long term directional indicators are coming off nicely and nothing to show for the wear yet. 

The angle of the drop being so steep, is like trying to rein up a horse with dental floss. 

So for technically wise, there is no issue for gold to continue pushing lower but of course, all other indicators have to be taken into context.  

The momentum/volatility indicators at first instance, continue to looks frantic. 

Sadly, another two of its arms are still not yet in the hot zone and this could work against the gold from going into a run-away dive.  

The bearish signal is starting to narrow a little and could be a prelude that maybe, the lows might be seen for now.

Interim supports are at 1247, 1235 & 1204.50 with minor supports at 1239.30, 1228 & 1219.40.

Interim resistances are at 1260, 1271 & 1282.50 with minor resistances at 1268.30, 1272.70 & 1280.40.

The daily/weekly trend changer points are at 1319.05/1374.90.

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Gold Trends (06 October 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are already at very low levels and some sense of the earlier mentioned “hiccupping” is seen as it laboriously works its way lower and could well continue for a little longer. 

Having said that, there is the smallest indication that of what might be a turning in the making, or an attempt of trying to turn back up right now but ground must not be lost below 1250. 

The medium term trending indicators have now pushed past the third most recent trough by a tad and usually this means we could be going for a bigger run and in a trending market.  

So hopefully the market does not stabilize soon and continue to make new lows daily because once new lows are not made, it will start looking overdone and in danger of whipping back higher, and very quickly too. 

The long term directional indicators are moving along very nicely and gold could be in a longer phase of weakness. 

It will take at least 4 weeks to nullify the effects of the recent move in normal market conditions. 

However, if gold somehow pulls back above 1320, then it’s nullified. 

The momentum/volatility indicators are getting hotter with slight signs the move decaying as only one of the tentacles is in the hot zone while the other two are only on the verge of going into the hot zone. 

For some reason, they don’t seem to be turned on easily. In a sense, that is holding back gold’s potential for quickly seeking more success thrashing the supports along the way.

Interim supports are at 1249.50, 1240 & 1205.50 with minor supports at 1239.30, 1228 & 1219.40.

Interim resistances are at 1277.50, 1282.50 & 1292.50 with minor resistances at 1268.30, 1272.70 & 1277.30.

The daily/weekly trend changer points are at 1326.80/1374.90.

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Gold Trends (05 October 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are very near to the bottom now and pushing any lower will be a struggle. 

Think of it like fishing, you need to pull and relax, pull and relax before finally being able to reel it in, definitely not straight forward. 

However, if gold holds recent lows for at least 2 days, there is a small chance of a retracement in the offing. 

The medium term trending indicators are now challenging the third most recent lowest trough (seems the second most recent trough were totally thrashed yesterday). 

Gold has about another 2 to 3 days’ worth of time left to mirror that and failure to push below that might see some congestion and a correction later on. 

Whether we succeed doing so will largely be clear by next Wednesday. 

The long term directional indicators have confirmed crossing over to being bearish but gold prices have already come off so much. It might be a case of it’s over before you even started, but let’s hope it is not. 

The momentum/volatility indicators have finally pumped up to a level it can be exciting if it wishes to do so. 

So let’s hope it really gets very interesting from hereon and the bearish signal is getting deeper.

Interim supports are at 1265, 1257 & 1250.50 with interim supports at 1267.20, 1260.60 & 1254.80.

Interim resistances are at 1276, 1282 & 1301.50 with interim resistances at 1272.70, 1277.30 & 1280.40.

The daily/weekly trend changer points are at 1332.45/1374.90.

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Gold Trends (04 October 2016) - Updates of Mib Agenti

The market has moved by too much and the screenshots taken from Reuters charts sent to me were from hours ago so I am unable to give a good reading out of that now. 

I shall attempt the same but with free charts. 

Being free, it will just not be so comprehensive. 

In the daily charts, the short term directional indicators are almost touching the bottom of the ocean with this nice deep run lower. 

If it’s a prolonged move, the market may get little hiccups along the way and yet continue testing new lows and bottom pickers can get their fingers burnt. 

The medium term trending indicators will likely have pushed nearer the second most recent trough with gold at this level and if no further selling comes into the market, it will be tough to push past it and may see a mini recovery into the closing. 

The long term directional indicators (charts before market crashed – no equivalent in the free charts) looks just on the lip of tipping over and being confirmed. 

Now that it has crashed, the confirmation is a done deal, provided it doesn’t pull back above 1300 at the closing. 

The momentum/volatility indicators are barely up a couple of notches and possibly the melt down is from disappointed longs cashing out as it just seem to climb too much, and after almost 6 months above 1300, is a sign of frustration. 

The bearish signal generated keeps growing stronger but the momentum is still benign.

Interim supports are at 1283, 1265.50 & 1258.50 with minor supports at 1282.50, 1278 & 1270.60.

Interim resistances are at 1302, 1318 & 1320.50 with minor resistances at 1294, 1298.30 & 1303.60.

The daily/weekly trend changer points are at 1336.65/1375.15 (The weekly point was previously at 1303 and successfully taken out).

p.s. quite notably market moved significantly as China is having its golden week.

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Gold Trends (03 October 2016) - Updates of Mib Agenti

An urgent matter/trip that could not be delayed had me away for the past week. 

It is nice to see that the market has remained near the lower end of the recent range and hopefully we can make something out of it. 

In the daily charts, the short term directional indicators were very near to protruding into the oversold region earlier in the day and with the gold prices where they are now, it would have likely poked below already. 

It does need the closing to be below 1313 in order to confirm that possibly there could be a play on the recent lows is in the making. 

There is just one problem with this, and that is like trying to race to ground floor from the first floor. 

Before you can say “go”, the race has already ended. 

The medium term trending indicators had earlier matched it’s prior high and not being able to pull above it, had turned back lower and pierced the parity line. 

On this run lower, possibly it might just match the previous low and gold may test only up to 1302-1303 levels. 

The long term directional indicators are at least 2 days away from confirming cutting for the lower but with all the other indicators at already such low levels, the length of the slide could be limited even if it confirmed. 

The momentum/volatility indicators are scarily low despite the depressed markets but with a bearish outlook. It needs to be cranked up at least 3 to 4 notches and the market will really get going.

Interim supports are at 1310, 1305.50 & 1288 with minor supports at 1303.60, 1301 & 1298.30.

Interim resistances are at 1322.50, 1325.50 & 1328 with minor resistances at 1316, 1335.50 & 1338.

The daily/weekly trend changer points are at 1337.95/1303.

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