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

In the daily charts, the short term directional indicators remained totally unruffled by the dishoarding in the Asian hours and probably attributed to the news of India banning gold imports. 

By remaining unfazed earlier, and with the rebounding off the lows, have now helped both prongs to be just poking above the oversold line. 

The Asian move resembles a little like “blow off steam” and if that is correct, marks that the lows might have been made and seen for this run down and some recovery might be due. 

The medium term trending indicators have put on the hand brakes, crumbled into a spot, with one prong trying to turn back higher but are still far from being confirmed. 

The long term directional indicators are still maintaining their poise and still purposeful. 

New lows needs to be found in order for these indicators to continue looking good and must not stabilize or else it will give the market a chance to try to avert the direction. 

The momentum/volatility indicators have finally moved up quite a few notches and to levels where it is ready to take flight but hope that the selling pressure maintains and these indicators take over for a little while and give us a good length at the lower end, a run towards 1100.  

Just as well, the negative bias is also widening so we might have a chance yet.

Interim supports are at 1181, 1175 & 1161 with minor supports at 1182.50, 1178.60 & 1168.70.

Interim resistances are at 1197, 1204.50 & 1207 with minor resistances at 1191, 1196.70 &1207.50.

The daily/weekly trend changer points are at 1253.50/1347.20.

NOTE:   Mib Agenti will be travelling next week.

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Gold Trends (24 November 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators did not succumb to the weighty drop in gold prices from yesterday, one of the prongs is holding steadily and back above the oversold region while the other is still trying to bring it above the line. 

So it seems the line defining whether or not it is oversold, is acting like a barrier for gold to push higher. 

If gold continues to dwell nearer to the recent lows, below 1190’s, then, despite the technical at such low levels, might cause gold to have a prolonged session of running lower. 

The medium term trending indicators were derailed and became unconfirmed again with a possibility of further dips lower, if it suited. 

The biggest worry is, it is so deep in, it will be tough to push too much lower, maybe 1160 before the indicator matches the same depth as the previous round down. 

The long term directional indicators are becoming more alive again as prices touched lower and relief is given that the direction is not in danger of being over just yet, or at least, even if it doesn’t push lower, it might be staying nearer to the lower end of the recent ranges. 

The momentum/volatility indicators pitched higher a couple of notches and pushing slightly deeper to the negative end.

Interim supports are at 1184, 1175 & 1161 with minor supports at 1182.50, 1178.60 & 1168.70.

Interim resistances are at 1197, 1202 & 1210 with minor resistances at 1189.60, 1196.70 & 1207.50.

The daily/weekly trend changer points are at 1265.30/1347.20.

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Gold Trends (23 November 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators missed out on confirming pushing back positively above the oversold region and instead, fresh selling has appeared in the market and this ought to keep the indicators continuing to give out negative vibes and remain pressured. 

However, the closing level is crucial as to where the market will likely head, going into the Thanksgiving holidays. 

A closing sub-1200 could mean the pressure will be maintained and if above that, then the market will likely stabilize and recover. 

The medium term trending indicators have cut up but have not yet started to widen the gap between each other. 

If it refuses to bend to the will of the current pressures, that is, remains poised and cutting up for the higher, then gold will likely spring back higher over the next 2 sessions. 

The long term directional indicators extended its shelf life with the nice move lower and prolonged its demise by at least half a week. 

A closing below 1200 would suggest that market stubbornly refuses to stabilize and seeks to see new and fresh lows. 

The momentum/volatility indicators are driven 2 notches lower with faintly remains buzzing.

Interim supports are at 1185, 1166 & 1155 with minor supports at 1182.50, 1178.60 & 1168.70.

Interim resistances are at 1200, 1204 & 1217.50 with minor resistances at 1196.70, 1207.50 & 1210.20.

The daily/weekly trend changer points are at 1276.75/1347.20.

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Gold Trends (22 November 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are stepping back nicely away from the oversold region. 

However, it’s only half way confirmed and needing the other leg to swing over as well. 

Once both legs are crossed over, coming off from nearly zero level, should set gold up for some recovery and we may have a chance to push till at least 1250. 

The medium term trending indicators have turned back up now and confirmed cutting up. 

Since it had ran really deep earlier, potentially could put gold up for keeping more to the higher side for a considerable period, maybe at least 2 weeks. 

It might also send gold towards 1280 before starting to look fatigued. 

The long term directional indicators are softening on it’s push lower now and the negative inclination could be negated by the week’s ending. 

The momentum/volatility indicators are dribbling a lot lower today with the negativity abating and a mild push towards totally cancelling it.

Interim supports are at 1208.50, 1200 & 1195.50 with minor supports at 1212.60, 1205.50 & 1190.60.

Interim resistances are at 1225.50, 1238.50 & 1251.50 with minor resistances at 1221.70, 1231.40 & 1240.70.

The daily/weekly trend changer points are at 1284.90/1347.20.

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Gold Trends (21 November 2016) - Updates of Mib Agenti

Gold pushed higher during Asia hours and continued to be buoyed in the London zone. 

In the daily charts, the short term directional indicators have successful cut up from below and have reached the bottom barrier of the oversold region and it should be able to push back above that soon enough. 

If that’s done neatly, indicates that in the near term, the lows have been seen and set and gold will likely have some retracement. 

If it’s a good retracement, we might see gold testing 1275 and if it’s a gentle recovery, then, maybe up to 1255 only. 

The medium term trending indicators had gone sufficiently deep enough and almost matching the earlier low in this indicator. 

It is also veering a little and susceptible to pulling back a little higher for now. 

However, it is still days off, from cancelling the down trend, or, to cut back for the higher.  

The long term directional indicators are having a respite as gold did not manage to thrash the 1200 and if gold keeps tending well above the recent lows and nearer to 1220, then the direction will be negated before long. 

The momentum/volatility indicators are pulling back again and down 2 notches. 

Just as well, it has become just a little more positive as the gap narrows.

Interim supports are at 1205.50, 1200 & 1187.50 with minor supports at 1204.70, 1190.60 & 1182.50.

Interim resistances are at 1218.50, 1228.50 & 1238 with minor resistances at 1221.70, 1231.40 & 1240.70.

The daily/weekly trend changer points are at 1293.95/1347.20.

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Gold Trends (18 November 2016) - Updates of Mib Agenti

During the Asian and early London hours, gold continually tried pushing towards the 1200 but the early selling evaporated as bargain hunters kept snatching at it and eventually it recovered from the lows and steadied itself. 

In the daily charts, the short term directional indicators are so near to the bottom and have in fact, confirmed cutting up. 

In order for the market to take advantage of this next week, could perhaps be, the missing ingredient, a good closing for the week of at least 1215 or higher. 

The medium term trending indicators have only relented just a little and for the most of it, still stacked more on seeing further action on the downside. 

It needs gold to close at least 1225 before any semblance of the market slowing down and have a chance at some correction. 

The long term directional indicators are continuing to look good and only a move and close above 1240 will bring it under control and a phase for some consolidation before the new direction emerges. 

The momentum/volatility indicators are pushing higher a couple of notches but still not reach the red zone. 

It needs to push up another 3 notches before it can be really interesting, with a bigger move in its sleeve. 

The negative bias continues to build up for now and far from turning positive any time soon.

Interim supports are at 1199, 1191.50 & 1184 with minor supports at 1202.60, 1190.60 & 1182.50.

Interim resistances are at 1217.50, 1221.50 & 1231.50 with minor resistances at 1218.50, 1221.70 & 1231.40.

The daily/weekly trend changer points are at 1304/1356.35.

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Gold Trends (17 November 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators have pushed deep into the oversold region and was caught somewhere between a rock and a hard place and nothing more could be milked from the earlier weakness of last week. 

So these indicators look like it is trying to bottom out and pulling back a bit higher and on the verge of cutting back up. 

This will be more significant if it pushes back above the oversold region and we possibly have a recovery on our hands and could test up to 1265. 

The medium term trending indicators are starting to finally show a little resolve as it is trying hard to pull back into itself but the task remains arduous for now as the gap is rather wide so that could likely cause gold to continue to falter as it attempts to regain higher ground for the week or so. 

The long term directional indicators continue to points downwards but looks like it might try to level off and the bearish signals will be negated soon. 

The momentum/volatility indicators have cooled off by a few degrees after the past few sessions of not having going near to the recent lows. 

The negative bias is just maintaining at current levels but just one leg is being gently lifted and could again increase the bias but that does not necessarily mean the recent lows will be reached.

Interim supports are at 1221, 1214 & 1201 with minor supports at 1219.40, 1215 & 1208.80.

Interim resistances are at 1228, 1233 & 1240.50 with minor resistances at 1231.40, 1238 & 1242.

The daily/weekly trend changer points are at 1312.10/1356.35.

Note: Mib will be back just 2 days and travelling the week after.

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Gold Trends (08 November 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators have turned down very nicely and pushing nearer the 70% mark now. 

This should give selling a boost as the move is at its densest point these couple of days but if no new lows are seen, then, even if it does push lower, will be in a staggered manner. 

The medium term trending indicators have only just confirmed cutting down and it will be a matter of days before it will assaults the parity line. 

If the parity line is convincingly broken, then the recent lows will be reviewed very shortly. 

The long term directional indicators are bent double backwards and maybe just a day away that it might give. 

Once it goes back within the bands, could see gold start to go back to nondescript activity with slow and sloth-like movements. 

The momentum/volatility indicators are many notches lower again today and the fading positive bias, has all but totally evaporated.

Interim supports are at 1278.50, 1262.50 & 1253 with minor supports at 1279.60, 1270.60 & 1267.20.

Interim resistances are at 1289, 1292.50 & 1310.50 with minor resistances at 1291.40, 1305.90 & 1316.

The daily/weekly trend changer points are at 1277.70/1362.05.

Note: The daily trend changer point is in danger of being compromised today, just a few ticks lower and it’s a done deal.

Mib will be away for the next 2 weeks and back only on the 21^st Nov.

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

In the daily charts, the short term directional indicators made an etching at the barrier of the overbought region and turned lower from there. 

In itself, not a very good omen as it could mean softness for at least a week and a half. 

The medium trending indicators have fallen short of their potential as it failed to close above 1310 at last week’s closing. 

Having recovered well and had a good run higher, it has achieved a considerable height. 

These indicators are trying to cut and confirm lower and if it is successful, will put tremendous pressure on gold and it will be utterly depressed and a re-visit of recent lows is not out of the question.  

The long term directional indicators are still intact and should help bolster the market around here and slippage might be capped. 

However, drifting too far away from recent highs will put a strain on these indicators and it might be forced to bend with the wind and succumb to fresh selling pressures. 

The momentum/volatility indicators was on the verge of pushing it up a couple of notches but as of last Friday’s move, remained unmoved but the positive bias, is getting a lot narrower and maybe 3 days from a turn around.

Interim supports are at 1284, 1278.50 & 1262.50 with minor supports at 1282.50, 1278 & 1270.60.

Interim resistances are at 1289.50, 1298 & 1310 with minor resistances at 1291.40, 1305.90 & 1316.

The daily/weekly trend changer points are at 1274.85/1362.05.

Note: Possibly Clinton’s “exoneration” triggered a bout of selling as the market opened markedly lower from New York’s closing.

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

In the daily charts, the short term directional indicators are just latching on to the overbought region, but have not protruded into the region yet. 

The fear now is, it is unable to successfully break through this barrier today, then further attempts to push higher next week will be like tying weights to your feet while trying to do high jump. 

So gold needs to push above 1310 tonight and close above that. 

The medium term trending indicators are steadily climbing higher and are showing that the gold will likely continue to be on a firm footing into next week. 

However, it must seek to anchor itself higher in order to prevent the inertia from stopping altogether and then trouble begins. 

The long term directional indicators are moving along curtly and there can be no dallying or risk a fall out back into a congestion phase. 

Gold must not close below 1280 or else, all will be for naught. The momentum/volatility indicators are starting to waver here but still well below the hot zone. 

It needs to be pumped up 2 more notches to send gold moving more purposefully. 

The positive bias is shrinking a little today but likely not in danger of being overridden.

Interim supports are at 1293.50, 1288.40 & 1283.40 with minor supports at 1298.30, 1294 & 1282.50.

Interim resistances are at 1310.30, 1318 & 1326.50 with minor resistances at 1309.90, 1316 & 1335.50.

The daily/weekly trend changer points are at 1270.40/1364.55.

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

In the daily charts, the short term directional indicators are stalling just beneath the overbought region, just what is it waiting for? 

Maybe the market is positioning itself for the onslaught of more presidential sensitive type news to be the harbinger of the next move? 

At the last round of news and without new developments, could mean a slight edge for Trump as we head into the elections. 

The medium term trending indicators are pushing northwards and paint a nice picture without any kinks to break the lines. 

If it continues its’ run up, it probably has a week’s worth of upside probing before it starts to be toppish at the earliest. 

The long term directional indicators are a sight to behold and this will keep gold tending to the higher side for a little while more. 

If we are lucky, we may get to 1325 on this run. 

The momentum/volatility indicators are levelling off and not increasing at the moment and once it starts stalling, could see a disinterest building up and volumes go into a tailspin. 

The positive bias is backpedaling a little today as it became less positive.

Interim supports are at 1289, 1283.50 & 1278.50 with minor supports at 1294, 1282.50 & 1270.60.

Interim resistances are at 1302.50, 1316.50 & 1321 with minor resistances at 1305.90, 1316 & 1335.50.

The daily/weekly trend changer points are at 1265.30/1364.55.

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Gold Trends (02 November 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are now working its way higher and almost reaching the overbought region, probably a day or two later. 

So it would seem, the worry warts have finally made their call and hedging the risks of the US elections. 

Some players view that if Trump wins, then gold will react immediately, that is, move higher. 

If Clinton were to win, then, gold will also move higher, but at a later date, that is, after QE5 is heralded. 

This is not an easy election but come what may, it will probabaly benefit gold. 

The medium term trending indicators are recovering well above the parity line and still some way off the previous peak and correspondingly, could mean gold testing at least 1325 when the indicator peaks. 

The long term directional indicators are in its early days yet. This should keep gold ginger footed and tending nearer to recent highs for another 2 weeks. 

The momentum/volatility indicators moved up 2 notches from yesterday and this makes an interesting play if it continues building up. 

However, it is still not yet reached a volatile stage so movements might not be as speedy as we like it. 

The positive bias is also increasing nicely, pulling well away from turning negative.

Interim supports are at 1295.50, 1288.50 & 1280.50 with minor supports at 1298.30, 1282.50 & 1279.60.

Interim resistances are at 1317, 1332 & 1353 with minor resistances at 1307.50, 1316 & 1335.50.

The daily/weekly trend changer points are at 1259.50/1364.55.

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

In the daily charts, the short term directional indicators are right in the middle of performing a fillip and almost on the verge of confirming cutting up again but a pity it is already at a lofty perch.  

So even if it successfully cuts higher, it might not run too high unless there were cataclysmic events following that. 

Motives for the recent move are almost invisible and belie that perhaps, vested parties may have begun hedging the outcome of the US presidential election but there must be a winner and hopefully a lesser evil than the other. 

The medium term trending indicators finally have both prongs pushing above the parity line and the gradient is sufficiently steep and this might see gold trying for at least 1300. 

The long term directional indicators have finally and clearly confirmed for the higher and hopefully, there will be sustainability for the move. 

As it newly confirmed, could see gold remaining on the firmer side for at least 2 weeks if all goes well. 

The momentum/volatility indicators have bounced off the bottom and ascending now but still at very low levels. 

The positive bias seems to be growing just stronger at the moment and what will help, will be for the momentum to pick up and send it straight higher.

Interim supports are at 1282, 1277 & 1271 with minor supports at 1279.60, 1270.60 & 1267.20.

Interim resistances are at 1291, 1303.50 & 1311.30 with minor resistances at 1291.40, 1307.50 & 1316.

The daily/weekly trend changer points are at 1255.90/1364.55.

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