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

In the daily charts, the short term directional indicators are clashing at the top, just beneath the overbought region, with no clear winner yet. 

So it seems the traders are in caucus right now, both sides trying to exert some force and see who comes out the victor. 

By normal market conditions, usually if no new highs were etched, this indicator would have turned and usually be heading back lower, putting a little pressure on gold. 

In the medium term trending indicators have decided to meet today and noticeably, one of the indicators has a distinct kink and trying to cut back below the other. 

If that happened, then that will be the basis for pushing gold back lower. 

To the untrained eye, they may have already reacted but so long as the signal is unconfirmed, it could easily resume its earlier path. 

The long term directional indicators upwards bias is narrowing plus a slight levelling off is seen. 

However the lower band of the channel is at 1260’s and managing to keep gold steady around here for the moment. 

Gold needs a bigger shove plus a drop and closing below 1250 before this indicator is nullified. 

The momentum/volatility indicators steadied overnight and just a breeze of a fresh impetus appeared and it has gone just a notch higher. 

The positive bias halted the decline and held steady, opening its gain by just a little bit more today.

Interim supports are at 1260, 1255 & 1247 with minor supports at 1260.60, 1254.80 & 1239.30.

Interim resistances are at 1270.50, 1291 & 1298.50 with minor resistances at 1268.30, 1277.30 & 1291.40.

The daily/weekly trend changer points are at 1246.10/1284.75.

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

I was celebrating Memorial Day yesterday but thinking back, market was really dull, so I thought I would just take a break. 

In the daily charts the short term directional indicators are retreating but with the direction still intact. 

Just a little stunted without any levelling off seen so far. 

So depending on what the traders decide to do after coming back from the holidays, either direction is fair play, depending who is holding a bigger book. 

The medium term trending indicators on the other hand, are levelling off a little right at the top.

If more levelling off happens in the next 2 days, then, it is difficult to challenge the previous peak to try to surpass it and will in fact, be more likely to start bearing down in a stronger manner.  

The long term directional indicators continue to maintain its composure. 

However, due to the narrowness of the channel with the top being 1277, that will likely be able to cap the market there for today. 

The momentum/volatility indicators lost its gains from last week and came off by at least 2 notches. 

The gold market is a lot like the story of the frog trying to jump out of the well by jumping 5 steps and falling back 3 steps in the evening, thoroughly frustrating. 

The positive bias is also getting slightly narrower as the gap is closing up slightly since last week, but still having a considerable depth so it will not fade so easily.

Interim supports are at 1259, 1255 & 1247 with minor supports at 1260.60, 1254.80 & 1239.30.

Interim resistances are at 1271.50, 1291 & 1298.50 with minor resistances at 1268.30, 1277.30 & 1291.40.

The daily/weekly trend changer points are at 1242.75/1284.75.

Get Gold Trading Chat (Android), excerpts from there

Gold Trends (26 May 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are trying to cut and push higher and around the 78% level now. 

If gold slides back to 1260, then it will not cut and next week might mark it out for a sell off. 

On the other hand if it manages to close above the 1270’s, then it will confirm cutting back up, albeit just under the overbought region. 

The medium term trending indicators are resuming its move higher today and still quite some distance from challenging the previous peak so I am just keeping my fingers crossed that gold continues riding on this indicator higher. 

The long term directional indicators are looking really swell but gold is too near to the top of the channel so this could hinder it running too high and too soon. 

It needs to press really hard at the top in order to push through and then, eked out fresh peaks to push the boundary higher thereby creating more space for itself to test higher after that. 

The momentum/volatility indicators are pushing up by 3 notches but not enough to cause the market to break out into a run yet. 

It will need gold to continue pushing higher from today’s high by at least $10 before it starts looking attractive and fresh buyers might be tempted to jump in. 

The positive bias is giving a strong improvement from yesterday’s session and at its widest point this whole week. 

Hopefully it makes something out of this and not have gold drift back lower towards the closing.

Interim supports are at 1257, 1251.50 & 1247 with minor supports at 1260.60, 1254.80 & 1239.30.

Interim resistances are at 1270, 1291 & 1296 with minor resistances at 1268.30, 1277.30 & 1291.40.

The daily/weekly trend changer points are at 1236.50/1287.75.

Get Gold Trading Chat (Android), excerpts from there

Gold Trends (25 May 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are trying to keep from dribbling lower and in fact an attempt to turn the indicators back higher is in progress and have recovered back to the 75% levels with it being slightly pointing upwards. 

However, it has not cut back higher and therefore, remains unconfirmed at the moment. 

It needs gold to rise back to at least 1265 and close there in order to have a chance to confirm it. 

However there is another issue, it is already so close to the overbought region and even if it could turn higher, will it have enough stamina to push it all the way through to 1300’s? 

The medium term trending indicators have pulled itself out of a tailspin and looking as if nothing happened except for a slight levelling off of the indicator. 

If it catches some tailwind, it could challenge the previous peak and send gold testing at least, the previous high. 

The long term directional indicators have solidified now and are opening up the gap from the channel making gold looking very firm and poised for a good push higher, if no fresh selling comes into the market. 

Gold will then be able to climb higher easily, in tandem with the indicators, just like cutting butter with a hot knife. 

The momentum/volatility indicators are still not exciting at the moment although it had gone up by half a notch. 

It will be days before it can build up sufficient momentum to garner fresh interest, if at all. 

The positive bias stopped losing and regain some ground, but by the smallest increment.

Interim supports are at 1251.50, 1245.50 & 1238.50 with minor supports at 1254.80, 1239.30 & 1228.

Interim resistances are at 1271, 1290 & 1295.50 with minor resistances at 1268.30, 1277.30 & 1291.40.

The daily/weekly trend changer points are at 1234.05/1287.75.

Note: Gold is trapped between the daily/weekly trend changer points and breaking of the weekly will be ten-fold more exciting than if the daily were broken.

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

In the daily charts, the short term directional indicators came up short just as it coasted the overbought zone. 

In fact, it has cut and turned back lower now around the 73% level now. 

So for now, gold will feel a little weighty until it weathers this out. 

If we are lucky, it might gold just dribbling and holding around the 1250’s level and once it is clear, puts it in a nice position to try higher after the horizon clears again. 

The medium term trending indicators are starting to look kinky with one of the arms having a distinct crook in it. 

Although it has not yet soured, it shows that weakness has crept in and if it is not corrected early on, the trend will decay over time. 

For today, to be really pushing it, gold needs to be closing below 1240 and very likely, the indicators would have cut lower by then. 

The long term directional indicators continue to look perky and positive at the moment and yesterday’s move hardly weighed down on it at all. 

However, staying too low is not good for it and could coerce it into cutting back into the channel and cancelling the newly confirmed, albeit not completely set in stone trend. 

The momentum/volatility indicators are took a dip in the last session and the early interest is evaporating as quickly as it condensed. 

The positive bias have narrowed marginally and still some fight left and if the 1250 hold, we could see a mini recovery towards the end of the week.

Interim supports are at 1246.50, 1238 & 1234 with minor supports at 1239.30, 1228 & 1219.40.

Interim resistances are at 1255.50, 1269.50 & 1289.50 with minor resistances are at 1268.30, 1277.30 & 1291.40.

The daily/weekly trend changer points are at 1231.35/1287.75.

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

At the eleventh hour, my trip was another by a few days more in order to fit in all the clients. 

Having just landed only a speedy commentary is made for today. 

In the daily charts the short term directional indicators have only just knocked on the overbought zone and trying hard to push past it. 

If at the closing it does that, gold will have a decent chance to probe till at least 1290. 

The medium term trending indicators are now well above the parity line, coming up from below in a clean smooth line and no signs of waning yet. 

This will keep gold buoyant for at least till the end of the week and it is a little difficult to push buoys underwater as it just keeps pushing back above the surface somehow or other.  

The long term directional indicators have a confirmed cutting from beneath the channel and poised for gearing higher. 

As the cutting is still fresh, it is like a sapling, needs at least a couple of days to settle and solidify the signal. 

If this new trend is acted upon, maybe we have a chance for gold to test above the 1300 as the indicator is setting out right near the bottom with lots of room to push upwards, that is, if all else are in sync.  

The momentum/volatility indicators are not at urgent levels and participants maybe slow to jump in too soon. 

Those that missed the boat may prefer to wait it out unless it goes up by at least 3 more notches. 

The positive bias continues widening and should likely be able to buffet gold to secure at least the 1250 for the week, even if some profit takers started selling.

Interim supports are at 1256.50, 1250.50 & 1244.50 with minor supports at 1260.60, 1254.80 & 1239.30.

Interim resistances are at 1272.50, 1290.50 & 1295.50 with minor resistances at 1268.30, 1277.30 & 1291.40.

The daily/weekly trend changer points are at 1228.40/1287.75.

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

I think all gold traders must be loving P. Trump right now. 

He has provided the necessary catalyst time and time again, breathing life into what could have been a mundane period right now and keeping gold burning bright. 

In the daily charts, the short term directional indicators pushing nearer to the 60% level now, and probably 2 to 3 days before it bangs into the overbought region.  

Seeing it ascended rather quickly this day, could position gold to test to at least 1290 if it runs true. 

The medium term trending indicators are still near the lower levels and still a distance to the parity line which gives gold plenty of room to run higher, if it chooses thus. 

Even if it gotten hung up on the resistances later on, it would keep nearer the higher end for at least another week or so, before the effect of gravity lulls it back.  

However, if more negative stimulus do come out, then the move higher could well be cancelled out quickly. 

The long term directional indicators have obediently gone back into the channel and at the earliest, would need a week’s time before a new trend emerges, if at all. 

The perky feeling could well evaporate as quickly as it appeared if strong opposing news starts coming out. 

The momentum/volatility indicators are on the verge of a reversal but looks disjointed to the current push higher and needs to quickly catch up. 

If it doesn’t, then it could weigh on the move up and like stones teetered to the legs and pull it right back lower. 

The bias has just cut and turned positive but the closing is the determinant if it is a confirmed cutting or a false cut. 

The closing needs to be at least 1255 in order to confirm the change over in the bias (positive now).

Interim supports are at 1254, 1246 & 1243 with minor supports at 1256.50, 1239.30 & 1228.

Interim resistances are at 1289, 1294 & 1335 with minor resistances at 1268.30, 1277.30 & 1291.40.

The daily/weekly trend changer points are at 1251.30/1290.80.

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

In the daily charts, the short term directional indicators are creeping back higher to around the 40% level now. 

At the moment, there has not been any weakness or waning seen yet and gold may yet push towards the 1250’s level before the indicator reaches the overbought region. 

The medium term trending indicators turned back higher last week and confirmed cutting back higher 2 sessions earlier. 

Coming back up from a very low level, if it plays to its full potential, could have gold pushing towards 1260’s later on. 

The long term directional indicators are close to having the down trend being cancelled after a steep descent. 

It will need gold closing at least 1238 and the indicator will go back into the channel and the signal cancelled. 

The momentum/volatility indicators are down many notches as the market worked off the selling previously seen and are now at levels that are not excitable as the market is going through a transition and will be difficult to be running too far away too soon or too quickly. 

It now needs extra encouragement or stimulus to wake it from its stupor. 

The negative bias pulled nearer and smaller but is not in danger of being converted in the next couple of days. 

However, usually Friday’s trading remains a little more unpredictable.

Interim supports are at 1226, 1217.50 & 1211 with minor supports at 1228, 1219.40 & 1212.60.

Interim resistances are at 1235, 1243.50 & 1252.50 with minor resistances at 1238, 1242 & 1251.70.

The daily/weekly trend changer points are at 1214.25/1290.80.

Note: Mib is only back or 2 days before going for another trip. So the next update will be next Monday.

Gold Trends (5 May 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators started pushing into the oversold zone now. 

It has some distance to go before it hits the floor. 

For that to happen, it will need gold to be testing at least 1210 at the barest minimum and nothing to say it could not push lower if it wanted to. 

However, being at such low levels, every inch lower will become more and more strenuous and the natural tendency is to spring back higher once below the zone which could happen in a series of hiccup like movement before the decisive move comes. 

The medium term trending indicators are continuing lower and there is still room to explore lower and the softness could persist for another 2 weeks at the maximum.  

The trend is still hale and so far, nothing to suggest it is slowing down anytime soon. 

The long term directional indicators are looking devilishly wicked at the moment. 

The only one minus is, gold is rubbing its rump on the lower channel, so the push lower might not be as swift and smooth as we like. 

I think naturally we will not go very fast sliding down a sandpaper slide, and every few inches, try to get a little reprieve by bouncing up and down. 

The momentum/volatility indicators are momentarily in suspension and a little difficult to break out of the stale mate. 

The negative bias retracted just a little as the market has not pushed past the earlier session’s low but the legs are opened wide and not in danger of cutting back over in the next couple of sessions.

Interim supports are at 1222.50, 1205.50 & 1200 with minor supports at 1224, 1218.40 & 1208.80.

Interim resistances are at 1236, 1240.50 & 1250 with minor resistances at 1238, 1242 & 1251.70.

The daily/weekly trend changer points are at 1269.10/295.45.

Note: Mib will be away the whole of next week and be back on the 15th May.

Gold Trends (4 May 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators finally have one of its arms pushing into the oversold region and the other just an inch away. 

With the way it is going, both arms could be pushing into the region soon and maybe digging lower. 

That is, if the market runs away which could have us heading towards 1200 in a good run and around 1220 in a mild one. 

The medium term trending indicators are really letting it loose now and the leading indicator at the moment. 

It does not seem to be waning and if it continues on its charted path, it could be in for a much bigger move lower, probably targeting at least 1180 at the minimum.  

The long term directional indicators are now firmly set and will be adding considerable downwards pressure and could set it rolling downwards, keeping it softer for the next 2 weeks. 

The momentum/volatility indicators are trying to roar back into life but still 3 notches before the strong pulse of the move can be felt and the chief reason that gold is taking its sweet time on this journey lower.  

Hopefully the downwards play is still on before it ends prematurely and set off an anticlimax mood. 

The negative bias is growing deeper today and more entrenched than the day before. 

The bias will be not so easily dismantled and disregarded even if the market turned and would require at least 3 full sessions to negate it, if it were to happen.

Interim supports are far away at 1205.50, 1200 & 1190 with minor supports at 1224, 1218.40 & 1212.60.

Interim resistances are at 1232, 1236 & 1240.50 with minor resistances at 1231.40, 1238 & 1242.

The daily/weekly trend changer points are at 1276.25/1295.45.

Gold Trends (3 May 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are trying very hard to at least touch the oversold zone but needs gold to test below the 1250 and close below that in order to confirm intrusion and hopefully we get some yardage out of the confirmation with a drop to at least 1230’s. 

The medium term trending indicators continue gaining traction below the parity line by pushing lower still. 

However, the tiniest of levelling off is almost unnoticed unless you peer at it under the magnifying glass. 

The pressure on gold is maintained and trying to hold back nearer the higher levels is doubly difficult for now. 

Even if gold does not do a slam dunk, it could continue to dribble lower but slowly. 

The long term directional indicators are still relatively fresh from its confirmation of cutting lower and if this indicator takes control over the trading for this week, could spell a good run down in gold. 

The momentum/volatility indicators started gaining back some fresh interest from the previous session and looking slightly more pert today but not yet at excitable levels. 

The negative bias opened up a little further but not yet deep in the zone and could be easily overturned if it doesn’t tip more into the zone.

Interim supports are at 1245, 1238.50 & 1234 with minor supports at 1239.30, 1228 & 1218.40.

Interim resistances are at 1257, 1262.50 & 1265.50 with minor resistances at 1251.70, 1268.30 & 277.30.

The daily/weekly trend changer points are at 1281.70/1248.70.

Note : The weekly point will have been taken out now and gold would likely move down by at least 2 shades - knee jerk reaction.

Gold Trends (2 May 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are coasting pretty close to the oversold region now and could easily tip over and into the region. 

Usually when this happens, we will probably see some long liquidations which could spur prices just a little lower than expected. 

From here, 1250 looks like the level whether or not we tip over or rebound from here. 

The medium term trending indicators have finally pierced through the parity line and confirmed closing below it. 

It did not waste any time deliberating the parity line before showing a stronger hand. 

This could potentially set it up for gold to test to at least the 1220’s. 

The long term directional indicators have managed to cut and confirmed poised to be pressuring the gold to be trading lower soon. 

As the cutting is fresh and a nice formed one, it weighs more heavily and gold has greater propensity to move lower in such a scenario, so let us observe.  

The momentum/volatility are at such feeble levels that it can be trying for gold to move too vastly from current price ranges on its own dynamics. 

A bigger move can only be anticipated if there were some breaking news that could send the market topsy turvy. 

The negative bias from the earlier sessions remain stable but is neither growing bigger or smaller. 

Usually, the market will try to close back the gap and leave participants wondering what will be the next move.

Interim supports are at 1252, 1245 & 1238.50 with minor supports at 1239.30, 1228 & 1218.40.

Interim resistances are at 1258, 1264.50 & 1268.50 with minor resistances at 1268.30, 1272.70 & 1277.30.

The daily/weekly trend changer points are at 1285.10/1248.70.

Note : Both the trend changer points are so near that either can be triggered easily but the weekly point if triggered, will cast gold in a sickly pallor and it will be under pressure for a considerable period, maybe up to a couple of months at least.