Gold Trends (28 February 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are in dilemma as it grazed the overbought zone and was unsuccessful in piercing through in yesterday’s attempt.  

As a result, that has started making the market looking softer today as the indicators have crossed over and cut for the lower now. 

Perhaps the reason gold has not yet suffered from the effects makes it look like it is defying gravity by staying up despite the indicators. 

The medium term trending indicators are not looking too healthy at all. 

It certainly looks like a triple divergence being fleshed out at the moment and the indicators have almost crossed over and cut across in confirmation. 

If gold closes below 1248, then the highs are done for this round and gold should be dribbling back lower. Gold can only avert the imminent if it manages to cross back the 1260’s and close above that to keep it in play. 

The long term directional indicators continue rising and at a nice angle. 

With the ceiling being set low here, makes it difficult for gold to push too high below being pulled back, earthwards. 

Try doing high jumps with bungee cords tied to your feet. Only 2 things can happen and that is, you jump so hard that the cords break or you get pulled backwards. 

So what gold needs to do here is to push with so much force, that the cords tying it down, breaks and that could nicely set gold to test the 1300’s. 

The momentum/volatility indicators are waning and lost about three notches, as gold decided to take a step back for now. 

The positive bias which was levelling off have now became minutely less positive but it is lodged deep in the positive territory and not a worry it will flip to the other side just yet.

Interim supports are at 1246, 1232 & 1228 with minor supports at 1239.30, 1228 & 1218.40.

Interim resistances are at 1260, 1272.50 & 1289.50 with minor resistances at 1268.30, 1272.70 & 1278.30.

The daily/weekly trend changer points are at 1238.05/1161.85.

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Gold Trends (27 February 2017) - Updates of Mib Agenti

Duty called and I answered and so I had to travel abruptly at the eleventh hour last week. 

I will just be back a couple of days and I should be away again latter half of the week. 

Anyway, it is nice to see that gold finally tasted the 1250 and came out on top. 

It tested highs of around 1260 before easing a tad into the closing. 

In the daily charts, the short term directional indicators are poised nicely, just straddling at the overbought zone and ready to make a dash higher and into the zone and hopefully, bringing gold along for the ride. 

The medium term trending indicators are looking mighty fine with a little self-doubt setting in at the moment as it struggles to go back to the highs. 

It will more than likely be able to do just that but the trick is to close near the highs, in order to gain new territory, like the 1260’s. 

The long term directional indicators are looking uncluttered for now but headway is met with the generated ceiling. 

It has protruded over the ceiling and now it must run like crazy, in order to bring about a new range into being. 

The momentum/volatility indicators are uninspiring at the moment but are at good levels where spurring it along is easily ushered. 

The positive bias gap contracted overnight but largely remains, highly positive for now.

Interim supports are at 1244.50, 1232.50 & 1225 with minor supports at 1254.80, 1239.30 & 1228.

Interim resistances are at 1262.50, 1273.50 & 1290 with minor resistances at 1268.30, 1277.30 & 1280.40.

The daily/weekly trend changer points are at 1233.15/1150.90.

Gold Trends (17 February 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators have managed to cut back up a little. 

The signal will only solidify if at the closing, it manages to close above 1240’s. 

Once that’s done, we could probably look forward for gold to push toward the 1250’s and try to trigger the stops waiting like ripe cherries, perfect for the picking. 

The recent range has really been boring and hopefully a new range is achieved and brings some freshness into the market.  

The medium term trending indicators are having a stab higher as they have managed to cut back higher as well, doing a mid-air turn in the process, which is pretty impressive.  

However, the danger is if the market refuses to run higher than the previous high, which could then set up the making of a divergence. 

The long term directional indicators managed to weasel out of the prickly situation of being meshed together and have now righted itself and just started separated and distancing itself from each other. 

In a sense, you could say that it pushed itself back into play by sheer force of will. 

The momentum/volatility indicators are pushing higher by 3 notches with the positive bias just dialing higher be a wee bit. 

The down side of it all is, it becomes a nonstarter and it will crumble back lower again.

Interim supports are at 1234, 1229.50 & 1223 with minor supports are at 1228, 1218.40 & 1212.60.

Interim resistance are at 1245, 1261 & 1263.50 with minor resistances at 1242, 1251.70 & 1268.30.

The daily/weekly trend changer points are at 1216.40/1142.75

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Gold Trends (16 February 2017) - Updates of Mib Agenti

In the daily charts, the short term direction indicators have made a u-turn from its earlier path and started pointing northerly. 

However, the negative bias has not yet been cancelled as they have not crossed over, one over the other.  

It could just be a blip in the gold price as it continues to try to worm its way back higher. 

The medium term trending indicators have levelled even more today as gold lingers above 1230’s. 

The fierceness of the slope is decreasing and needs gold to close above 1250 before it is near enough to change the trend. 

The long term directional indicators have just cancelled the positive bias, and usually after the direction are obliterated, it goes into a consolidative phase and hopefully, it doesn’t last more than 2 week this time, if at all. 

The momentum/volatility indicators are losing ground steadily as it recede quickly back lower. 

It has lost almost 50% advantages, as gold continues to contend with the recent range. 

Pushing too high or too low will not be an easy task as the zip is quickly evaporating. 

The positive bias has started opening up again in the early Asian session and has helped gold to latch on the early gains and enabled it to just play around the 1240’s level.  

It was overheard in the market, the stops are being line above the 1250 and if that’s tested, could be just what the market needs to speed it to 1300’s. 

At the lower side, a closing below 1218 dooms it to rush it to 1200.

Interim supports are at 1232.50, 1227.50 & 1223.50 with minor supports at 1228, 1218.40 & 1212.60.

Interim resistances are at 1241.50, 1260.50 & 1287.50 with minor supports at 1238, 1242 & 1251.70.

The daily/weekly trend changer points are at 1216.40/1142.75.

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Gold Trends (15 February 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators have overrun the 50% and are now languishing at the 40% mark. 

If gold will have it’s way, we could at least be touching the top of the oversold region by the end of the week. 

Gold will have likely follow suit and could test as the lows 1200’s. 

The medium term trending indicators are being drawn really nicely and it has come off by 50% from the peaks and the parity line could be challenged nearer next week’s ending. 

That is, if it continues to make its way lower. 

The long term directional indicators have finally managed to push, cut and confirm that for now, the positive bias is finally over for the moment. 

The bad news is, we could enter into a consolidation phase spanning at least 2 weeks if it became complacent. 

The momentum/volatility indicators have finally started falling down to earth again by more than 2 notches. 

The positive bias is getting a lot narrower too but the gap is still too wide to be closed within a day.

Interim supports are at 1218, 1208 & 1197.50 with minor supports at 1218.40, 1212.60 & 1204.70.

Interim resistances are at 1230, 1243 & 1259.50 with minor resistances at 1231.40, 1238 & 1240.70.

The daily/weekly trend changer points are at 1213.70/1142.75.

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Gold Trends (14 February 2017) - Updates of Mib Agenti

Due to some pressing matters, only a brief reading for today is knocked up. 

In the short term directional indicators is still crumbling lower and come to almost the 50% mark now and it just might try to hold here and if successful, gold might then have a mini recovery on the back of that. 

The medium term trending indicators are still favouring further downside forays, having corrected only around 40% from the highs and the gradient of the drop is too steep to fend off effectively. 

So even if there were attempts to stabilize it here, the effects of which can only be seen at least 2 days later. 

The long term directional indicators are holding steady just here, in case the market needs to run either way, it is then easy to tip it over into the hot zone. 

The positive bias is getting narrower as the gap narrows further today but not in danger of being cancelled just yet. 

If is not unforeseeable if a dalliance occurs before resuming it push higher, later on, but only in time, then we can tell.

Interim supports are at 1229.50, 1224.50 & 1214 with minor supports at 1218.40, 1212.60 & 1204.70.

Interim resistances are at 1237, 1245.50 & 1258.50 with minor resistances at 1238, 1242 & 1251.70.

The daily/weekly trend changer points are at 1210.25/1142.75.

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Gold Trends (13 February 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators continue its downward spiral but strangely, gold was only half convinced. 

It followed it lower but towards the closing, rose back and closed above the 1230’s. 

The indicators are pushing back below the overbought region and at around the 75% mark now. 

Gold will likely continue to be under pressure for now. The medium term trending indicators have a nicely formed divergence so gold is pressured from the starting of the week and the parity line attracts. 

Gold has largely shrugged off attempts to sell into it and propped it back higher. 

As it had recently peaked, gold could take up to 3 weeks dwelling nearer the lower end of the recent ranges, as it resynchronizes itself and next direction becomes apparent. 

The long term directional indicators are levelling off and near to being parallel to the axis. 

The gaps between the indicators are also narrowing but the direction has not been confirmed cutting to a reversal yet. 

The momentum/volatility indicators are back into the unexciting, nothing’s happening zone for now. 

There is also a convergence of the indicators and this round, failure on the upside, possible could cause a flurry on the downside. 

The positive bias gap is getting narrower but still far from over at the moment.

Interim supports are at 1221.50, 1219.50 & 1209 with minor supports at 1218.40, 1212.60 & 1204.70.

Interim resistances are at 1228, 1248 & 1259.50 with minor resistances at 1231.40, 1238 & 1242.

The daily/weekly trend changer points are at 1206.40/1142.75.

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Gold Trends (08 February 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are still inching higher minimally. 

It has gone deep into the overbought zone now and almost reaching the roof. 

It can only take so much punishment and only a matter of time before it breaks and pushes back below the overbought zone. 

When that happens, very likely the directional had changed and the indicators have cut and pointing lower. 

So we must eye it closely and a good daily closing is pre-requisite for it to stay on the firmer side. 

The medium term trend indicators are resuming its earlier path now and all tiredness seems to have evaporated for now. 

It will be at least 2 day’s away from challenging the previous peak and the indicator will likely be dancing around for another 2 days before it is known if the peak was successfully overcomed, or that it succumbed and faltered there. 

The long term directional indicators are looking really nicely drawn, almost a text book example. 

The indicators are shaping out to be looking like the earlier run and if it’s worth anything, then the target should be around 1270 after interpolation. 

However, the band between 1239 to 1424.50 could turn out to be the bane of attempts to push it past those levels. 

The momentum/volatility indicators have picked up 2 notches and it’s in the hot zone. 

Gold should be running higher if it suited. 

A slight retraction in the gap is seen today in the bias but remains firmly positive.

Supports are at 1228, 1222 & 1216 with minor supports at 1226.10, 1219.40 & 121.60.

Resistances are at 1247.50, 1252.50 & 1260.50 with minor supports at 1240.70, 1251.70 & 1268.30.

The daily/weekly trend changer points are at 1192.20/1133.90.

p.s. Mib will be away and back 13 Feb 2017.

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Gold Trends (07 February 2017) - Updates of Mib Agenti

In the daily charts, the short term direction indicators surpassed its previous peak and no wonder gold is finding tough to push just that bit higher as it has reached the ceiling for now. 

You cannot just push through that for now, so what it needs to do is, to pull back a little first for some breathing space before giving a hard shove higher. 

One has to remember that we are talking the indicator here and not the gold price and that is, vis-à-vis, does not move in tandem or tick for tick movement. 

However, it still risks hitting the ceiling again and again. 

The medium term trending indicators continue to be northwards bearing with a slight tinge of weariness creeping in, just at the tip. 

Let’s see how this plays out tomorrow but it is still days yet for the trend to be overridden. 

The long term directional indicators cutting higher freshly minted confirmation faces obstacles before the run has even started in that, it is already testing the upper boundary and every new high gained is a tedious affair so newer highs may not be so forthright coming and likely be slower in the making from here on. 

The momentum/volatility indicators are burning red now but the winds have died down somewhat and not fanning it hotter. 

The positive bias’ gap continues widening today by almost 20%. 

Gold should take care to avoid a closing below 1228 and at least a closing above 1231.40, or else, it could signal an early top in the making.

Interim supports are at 1224.50, 1218 & 1210.50 with minor supports at 1228, 1219.40 & 1212.60.

Interim resistances are at 1242, 1250.50 & 1259.50 with minor resistances at 1238, 1251.70 & 1268.30.

The daily/weekly trend changer points are at 1188.40/1133.90.

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Gold Trends (06 February 2017) - Updates of Mib Agenti

In the daily charts, the short term direction indicators have gotten one leg just into the overbought region with the other dangling quite a way off. 

Now that we have come into the zone, it is important to really start picking up the pace. 

If it doesn’t, it is like racing down a U-bend on one side and failing to push over the other side and usually, it decelerates fairly quickly and drop back down just as quickly. 

The medium term trending indicators are nowhere near the previous peak despite gold prices pushing above its earlier peak. 

This is not particularly good as a divergence is forming but the market could be develop 2 or 3 more dunes, each smaller than the preceding one, before finally deciding to give it up altogether. 

Or, the reverse could happen too.  The long term directional indicators are on the verge of trying to cut back from the bottom and needs gold to close at least 1225 and higher in order to do so. 

Preferably, it needs to hold above that for the next couple of days before the confirmation is clear and stable. 

The momentum/volatility indicators are so close to hop into the fast lane, just need 2 gear shifts and we are there. 

The positive bias is also widening further today and hopefully a fun ride up is seen this week.

Interim supports are at 1223.50, 1211.50 & 1205.50 with minor supports at 1219.40, 1212.60 & 1202.60.

Interim resistances are at 1230, 1247.50 & 1259 with minor resistances at 1231.40, 1238 & 1242.

The daily/weekly trend changer points are at 1185.40/1133.90.

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Gold Trends (03 February 2017) - Updates of Mib Agenti

In the daily charts, the short term direction indicators are still pushing higher almost touching the 77% mark and near enough the overbought region. 

If gold attempts going below 1210 and closes below there, will like cause the indicator to cut and confirm for the lower in the interim. 

So despite not being able to shore up above 1220’s, luckily it was too far gone such that it pressurized gold too low. 

The medium term trending indicators have pulled back a little into itself and the gradient of the slope is getting gentler and fortunately, has not cut for the lower yet. So it could just be it is taking a rest an realigning the indicators before showing its true mettle. 

The long term directional indicators are still at least 3 days away for etching out a new direction, if at all, will more likely be for the higher side. 

The momentum/volatility indicators are just planing along but they have converged and usually a short burst will happen and then the direction is set. 

The positive bias is getting narrower for now with the slightest of difference from yesterday. So it will be likely for the bias to fester for another couple of days.

Interim supports are at 1207, 1203.50 & 1193 with minor supports at 1212.60, 1200.10 & 1190.60.

Interim resistances are at 1222.50, 1232 & 1258 with minor resistances at 1221.70, 1231.40 & 1238.

The daily/weekly trend changer points are at 1183.75/1128.05.

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Gold Trends (02 February 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are pushing higher still and reaching the 60% mark now.  

Since we have pushed above the 1220’s, the closing if above 1220’s, usually indicates that the market will have some chance of at least trying to 1248 levels.  

So, having climbed so nice and if it fails to shore up the 1220’s, gold could be forced to scale back lower to 1200’s levels. 

The medium term trending indicators have recovered at least 30% of the drop lower. 

With lots of room (70%) still left in its sail, could send gold speeding back to 1288 levels in the medium term. 

The long term directional indicators, at the earliest, are still least a week anyway from a new trend emerging. 

However, only by maintaining the current direction will the new trend emerges.  

Any slack or hesitation will put a dampener on it happening sooner and enough drag is applied, it may even turn negative. 

The momentum/volatility indicators are not doing much and just holding steady and ready but sometimes the move just doesn’t come as it have not gone into the red zone. 

The positive bias started increasing again today, growing just a little more positive.

Interim supports are at 1215.20, 1210, & 1204 with minor supports at 1218.40, 1212.60 & 1202.60.

Interim resistances are at 1225, 1233.50 & 1258.50 with minor resistances at 1231.40, 1238 & 1240.70.

The daily/weekly trend changer points are at 1182/1128.05.

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Gold Trends (01 February 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators have successfully made a turning up, coming back higher from the 40% mark.  

However, it required gold to maintain above 1208 at the least in order to keep it sane. 

If gold closes below that, could see gold incoherent and veering towards some sideway action. 

The medium term trending indicators have pulled up really nice and cutting back higher from the bottom.  

However, this is freshly made and still jello and not yet set and market may or may not take some time to set and solidify. 

The long term directional indicators have now gone right smack in the middle of the neutral zone. 

This is not a good sign as it can wallow in there for quite some time and if memory serves, we had quite a long stint, almost 6 months, of it wallowing in the middle last year. 

The momentum/volatility indicators have gone a couple of notches lower again as it is tripping over itself whether to get going or to retreat. 

We are fortunate in that the positive bias is just holding itself nicely and not moving either left or right by too much.

Interim supports are at 1202.50, 1195.50 & 1192 with minor supports at 1200.10, 1190.60 & 1182.50.

Interim resistances are at 1214, 1222.50 & 1231 with minor resistances at 1218.50, 1221.70 & 1231.40.

The daily/weekly trend changer points are at 1181.30/1128.05.

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