Gold Trends (31 March 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are pushing lower linearly without hitting any road bumps so far. 

They have now reached around the 60% mark and at the pace at which it is descending, there could just be about 2 to 3 days’ worth of trying to get lower, if at all, under normal market conditions. 

However, the same is not reflected in the gold price which is still behaving badly and trying to break protocol. 

Either one has to give sometime or other and it will be nice if it was the latter, so that it has some down time as it is getting stale where it is. 

The medium term trending indicators have today crossed and cut over, rather deeply. 

This piles on the pressure on gold but as the cutting is fresh and still malleable to a certain degree, it can easily flip back to the other side. 

Once the week is done and it remains cutting downwards, then the trend is set and should see gold trading lower at least the whole of next week. 

Even if the prices didn’t move too low, it will not be too quick to rise quickly, barring of course, some earth-shattering event or news. 

The long term directional indicators are touching each other now and gold needs to close below the 1240’s before the upside bias is confirmed over and could open up to range bound trading between 1 to 2 weeks. 

The momentum/volatility indicators are at levels that’re chaining down gold from moving too far from current levels, just about plus or minus $15 on either side. 

The positive bias have narrowed a fair bit since yesterday and it could all be over by tomorrow if gold continued seeking lower closes. 

Gold needs to be back to at least 1230 or below before the bias is cowed.

Interim supports are at 1239, 1233 & 1227.50 with minor supports at 1239.30, 1228 & 1218.40.

Interim resistances are at 1247.50, 1255.50 & 1261.50 with minor resistances at 1251.70, 1268.30 & 1272.70.

The daily/weekly trend changer points are at 1232.75/1196.80.

Gold Trends (30 March 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators have turned down nicely and just around the 70% level now.

Gold is still resisting the signals from this indicator by stubbornly refusing to follow too keenly but at least it’s slightly lower. 

With only this indicator being confirmed at the moment, it is like trying to milk a cow in the dark that is not lactating with the danger that it might turn out that a bull was being milked instead.

So hopefully as days goes by, the other indicators will also cut and turn, and confirm a change, so that we can get a good run out of this. 

The medium term trending indicators are off their trajectory and also the highs, are drawing nearer to each other and almost cutting down and needs gold to close below the 1238 in order to get it confirmed. 

If this indicator gets confirmed, we could enjoy a nice ride lower to at least 1180’s , but it must flow sure and quick or else it loses it objective if it dallies anywhere for too long. 

The long term directional indicators’ upside bias is safe from a state of crisis for another 2 to 3 days. 

If the bias is negated, then it might deliberate for at least a week before a new direction is hammered out. 

The momentum/volatility indicators are receding again and do not give incentive to hold any positions for too long as any initiative could be easily snuffed out or even splutter out on its own accord. 

The positive bias is getting slightly narrow but it is still deeply positive and unlikely to be converted in these 2 days.

Interim supports are at 1246, 1235 & 1229.50 with the minor supports at 1239.30, 1228 & 1218.40.

Interim resistances are at 1254, 1259 & 1263.50 with minor resistances at 1251.70, 1268.30 & 1277.30.

The daily/weekly trend changer points are at 1228.90/1196.80.

Gold Trends (29 March 2017) - Updates of Mib Agenti

It will just be a short review today. In the daily charts the short term directional indicators have cut and both have gone below the overbought zone, bearing downwards. 

For now, gold will be suffering the pull of this indicator and trying to get higher will be doubly difficult. 

The only thing is, how much can we get out of this ride on the lower side. 

For now, optimistically we may get a low of around 1225 but that is if the other indicators also come into play. 

The medium term trending indicators are feeling heavy at the top now and started leveling off. 

If it goes according to the norm, it could take 2 to 3 days before it gets a chance to cut and cross over with lower numbers to look forward to. 

The long term directional indicators are starting to look a little coerced at the moment. 

The gradient is getting gentler and it is careening on the bottom rung at the moment but to cancel out the signal in this indicator will need gold to close below 1240’s. 

The momentum/volatility indicators continue to remain uninspired and the positive bias is getting narrower today but likely not in danger of being overrun, at least for this week.

Interim supports are at 1245, 1236 & 1230 with minor supports at 1239.30, 1228 & 1218.40.

Interim resistances are at 1261, 1264.50 & 1289.50 with minor resistances at 1268.30, 1272.70 & 1278.30.

They daily/weekly trend changer points are at 1224.50/1196.80.

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

In the daily charts, the short term directional indicators have cut and jointly pointing southwards now. 

One of them has pushed through back below the overbought zone and the other, about to follow very soon. 

Depending how it plays out will determine how much mileage we get out of this turning. 

However, if more news are Trump’ed up, could swing the market either way. 

The medium term trending indicators are taking its sweet time to level off, reveling in the rally of the past couple of days with a good push higher. 

However, strategic technical areas have not been captured and so, the early advantage could work adversely upon itself and turn into a disadvantage if we do not get closing above 1255 by the end of the week.  

The long term directional indicators are still banging hard on the upper rung and it needs to open up more quickly so as to finally get a good shove higher. 

Overall, this indicator continues to remain positive and should remain positive till at least, to the end of the week. 

The momentum/volatility indicators are building up by only a small margin and in the teasing zone. 

You can never quite second guess if the market is going to give it a good push or continue to remain casual. 

The positive bias retracted a little over the previous day but is still deeply positive and will take gold to try the 1200’s before it is negated.

Interim supports are at 1254, 1243 & 1234 with minor supports at 1254.80, 1239.40 & 1228.

Interim resistances are at 1260.50, 1264.50 & 1280 with minor resistances at 1268.30, 1272.70 & 1277.30.

The daily/weekly trend changer points are at 1219.50/1196.80.

Gold Trends (24 March 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are starting to feel a little heavy with gold being unable to hold on to the highs and closing higher the previous session. 

There is a good chance, pending the closing of today’s session, that, it could have cut for the lower and back below the overbought region, and poised to start testing supports next week. 

The medium term trending indicators are levelling off and the gradient seems less urgent today. 

However, it will be days before it is able to close the gap between the 2 indicators and crossed back over and into a downward slide. 

All is not lost if gold manages to force and close above, at least the 1255 tonight. 

If that happened, that would eradicate the slightly pervasive mood now being seen. 

The long term directional indicators are still going strong but a noticeable reduction in the width of the channel makes it a little worrisome. 

It had kept banging the top side of the channel to get where it is now and likely some fatigue is seeping in as pushing it higher is tiring work. 

At the moment, this still looks fine, so long as gold doesn’t trades and closes below 1232 in today’s session. 

If that happened, gold could start to range for a little while before a new direction emerges. 

The momentum/volatility indicators are downright depressing. 

Even after creeping so much higher, it remains uninspired and shackling gold from going too far away. 

The positive bias is getting narrower today but is still far from being turned in the near future. 

It will take slightly more effort before that can be accomplished.

Interim supports are at 1236.50, 1232 & 1226 with minor supports at 1239.30, 1228 & 1218.40.

Interim resistances are at 1253.50, 1262.50 & 1288 with minor resistances at 1268.30, 1272.70 & 1278.30.

The daily/weekly trend changer points are at 1209.50/1194.30.

p.s. Mib Agenti will be away and back next Wednesday.

Gold Trends (23 March 2017) - Updates of Mib Agenti

Just having returned from a business trip, it is certainly nice to see gold pushing higher now. 

2 weeks ago, had gold closed below the 1190’s at the week’s closing, would have meant a different course entirely as a major indicator would have been confirmed cutting lower, but luckily it didn’t. 

However, gold is not out of the woods yet and it remains a challenge to continually try to keep its head above the water unless it somehow manages to pull above the 1320’s and that will set gold in a new range.  

In the daily charts the short term directional indicators are pushing into the overbought zone right now. 

It must give its all so that the inertia will not be killed by its inability to test higher and pulled back by gravity. 

The medium term directional indicators are cleanly off the parity line, pushing higher, and if faltering does not happen, could send gold to test at least 1285 and the trend will be sustainable for another 2 weeks. 

The long term directional indicators have confirmed that possibly a new uptrend might be in the making. 

However, any moves up is careening off the upper rung that could severely impede its march forward and, that in itself, could quickly deflate the built up bravado for this move. 

The momentum/volatility indicators are not at levels that will turn the market into a favourite anytime soon. 

Luckily it is still young and building up the buzz and any semblance of making it a darling, is at least 3 to 4 days, if it happens. 

The positive bias is holding on and trying not to give back gains it made by holding it steady.

Interim supports are at 1244, 1235 & 1227 with minor supports at 1239.30, 1228 & 1218.40.

Interim resistances are at 1253.50, 1261 & 1266 with minor resistances at 1268.30, 1272.70 & 1277.30.

The daily/weekly trend changer points are at 1204.70/1194.30.

Gold Trends (10 March 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators had both feet in the oversold region with the lower leg, almost pressing on to the bottom. 

Seeing that gold has come back up from the lows, the market can only press so hard before realising its futileness and have some recovery. 

In the process, could be some resynchronisation happening and depending where is the close, will determine if indeed the lows are set. 

If it closes at least 1208 or higher, then, in the very short term, the lows are set and some retracements should be happening the earlier part of next week. 

The medium term trending indicators are beautifully drawn and the pace and steepness of the decline suggest that perhaps, sellers could still be in the drivers seat for at least another week. 

It is a pity that the gold price are not in tandem as, if it were, gold should have tested the 1180 earlier today and a target of around 1130 is possible. 

So in all likelihood, the best case scenario is, a low of around 1160’s being made of what’s left of these indicators. 

The long term directional indicators nicely formed and would need a triple hat trick in order to break out of current direction at the moment. 

What was hampering gold’s decline were, the indicator were rubbing the bottom of the channel all the way down, almost like riding a sled downhill but with the legs on the ground, slowing it all the way down. 

Not a smooth ride but at least we did go lower. 

You can only go so far before feeling the heat from the friction before deciding to call it quits. 

At the point when you do, the market will see some good recovery. 

However, to cancel the signal, will take almost 2 weeks to achieve. 

The momentum/volatility indicators pumped up a few notches and started looking livier today but not at a level which could shake the market. 

The negative bias is widening quickly too and this sets up the market to keeping negative for a longer duration.

Interim supports are at 1186.50, 1177.50 & 1162.50 with minor supports at 1200.10, 1190.60 & 1182.50.

Interim resistances are at 1216, 1223.50 & 1248 with minor resistances at 1207.50, 1218.50 & 1231.40.

The daily/weekly trend changer points are at 1243.05/1174.05.

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

In the daily charts, the short term directional indicators are quickly declining with one appendage pushing into the oversold zone and the other not too far away. 

They have now come down to around the 23% and we may just get a chance to see it go to a low number on this run as the march on seems relentless. 

The medium term trending indicators are looking very serious at this point and have dug deep under the parity line. 

If gold prices moves in tandem as the indicator, then, gold will have another shot at the recent lows, nearer the low 1100’s. 

However, that is just theory, and not taking other factors or indicators into considerations.  

The long term directional indicators have finally today decided to break apart and confirming the direction lower. 

As this is newly minted, it is still a weak signal and need a couple of days, to solidify and become a stronger signal. 

The momentum/volatility indicators are picking up but not as quickly as one would like it. 

So that is still a hindrance and holding gold back from it’s full potential and unleash the floodgates from opening fully and we get a fantastic sell off from it. 

Something we have not seen in a long time. 

Building up nicely, the negative bias is also widening and making it slightly more durable.

Interim supports are at 1206, 1196 & 1181.50 with minor supports at 1208.80, 1200.10 & 1190.60.

Interim resistances are at 1221, 1227 & 1236.50 with minor resistances at 1218.50, 1231.40 & 1238.

The daily/weekly trend changer points are at 1253.85/1174.05.

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

In the daily charts, the short term directional indicators have tumbled in Asia session to the 30% mark today. 

If it continues lower, we may come into contact with the oversold zone by tomorrow. 

The way it is looking now, gold may yet push to 1215 and likely pushed into the oversold zone. 

However, after getting there, whether it is able to anchor itself to 1215 or ricochet back higher depends on how forceful the sellers want to be. 

The medium term trending indicators are looking really beautifully drawn and still pushing it lower with one of the indicators well past the parity line. 

Now, we wait for the other one to push through as well and possibly, gold would be at least 1210 by then. 

The long term directional indicators are feely touchy right now and refusing to separate. 

That is good news as the market is almost confirming that this indicator could be confirming that gold may be heading lower, if it manages to close below 1220 today and could lead to a test of at least 1200 next week. 

Just be mindful that most of the other indicators are at very low levels so it could still spring a couple of surprises if it suited. 

The momentum/volatility indicators are recovering a little but is insignificant and market will still more likely to flitter around rather than having big moves planned. 

The negative bias grew a little deeper and is not opening wider as quickly as preferred. So the market could engineer a turnaround as easily as it flipped over earlier.

Interim supports are at 1218.50, 1207 & 1197 with minor supports at 1219.40, 1212.60 & 1205.50.

Interim resistances are at 1229.50, 1235 & 1241.50 with minor resistances at 1231.40, 1238 & 1242.

The daily/weekly trend changer points are at 1257.35/1174.05.

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

In the daily charts, the short term directional indicators are nicely pointing downwards. 

They have come down to the 45% mark now and still have some way to go, before hitting the oversold region. 

If going according to days gone past in such scenario, then this indicator may continue to exude weakness for another 3 days, at the most, before attempting to make a turning. 

The medium term trending indicators have just started to test the parity line after making a nice turning and slide lower. 

Usually this sets up for testing of one’s nerves, as the indicator dribbles on the line until a winner is decided, whether we forcibly push through or it  manages to hold it there and turn back up. 

Looking at the bigger picture and really tight ranges, something is brewing beneath the calm and could soon be apparent when the interest rate decision is made known. 

The optimists are holding out for no increase and the pessimists sitting on the other end. 

That being the case, it will likely be the optimists who had been taking the offers when it tested lower as that will be their nature, more pro-active. 

The long term directional indicators were consolidating earlier but now has come very close to cutting lower. 

However, in this indicator, a miss is as good as a mile and you can never second guess if it is going to cut or not. 

However, a closing below 1220 will confirm the cutting and blood will need to be let out after that. 

The momentum/volatility indicators have dropped to such a low level, it is almost in hibernation. 

The bias has now turned negative but it still tussling to fight back and pull back the other way. 

So although it is negative now, it is not clearly etched and will take at least a couple of days to solidify, or not.

Interim supports are at 1227, 1223.50 & 1210 with minor supports at 1228, 1219.40 & 1212.60.

Interim resistances are at 1240, 1244 & 1252 with minor resistances at 1238, 1242 & 1251.70.

The daily/weekly trend changer points are at 1259.60/1174.05.