Gold Trends (31 August 2015) - Updates of Mib Agenti

If the market can be insulated from external factors, then, in the dailies, by just pure technicals alone, is due for some easing.

The medium term trending indicators maintain a downward bias and the angle of the decline is too steep to "withstand" too much resistance.

The longer term directional indicator's engine is now left cold and harder to be reignited and so, upside potential is temporarily curtailed.

The faster and short term directional indicators attempt to turn back higher are questionable as gold continue to lose its grip after it managed to push higher.

The green shoots seen in the weeklies earlier are malleable and as fragile as wisps of smoke.

Just as well, the momentum/volatility indicators are also at low levels.

Market seems to be biding its time till the decision on the rates are made.

Until that time, it seems happy to be just pushed around.

Interim supports are at 1125, 1115 & 1092 with minor supports at 1123.70, 1118 & 1103.50.

Interim resistances are at 1133.50, 1140 & 1165 with minor resistances at 1132, 1142.20 & 1157.

The daily/weekly trend changer points are at 1165.40/1168.40.

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Gold Trends (28 August 2015) - Updates of Mib Agenti

With the muscle play in the currency markets, has left the US dollar at an unsustainable level plus developments in world markets, tipping the FOMC to put a hiatus on the supposedly rate hike in September, bringing relieve all around as equities rebounded as well as gold.

So for now, we see gold testing a little higher but what will come out of it?

In the dailies, the momentum/volatility indicators are in crawl mode so short term wise, gold might not be moving too drastically.

The faster directional indicators are also trying to overcome the weakness and being a little near to the peak where it came off from, may prove a hinderance to surpassing recent high set last week even if it successfully turned up from here.

The medium term trending indicator hasn't flinched as the angle it was coming off from, is very steep.

This leaves the longer term directional indicator showing faintest signs of being revived.

The weeklies shows the slightest of promise for trying higher but the momentum/volatility  trending indicators are only purring and not roaring.

Interim supports are at 1131.50, 1128 & 1108 with minor supports at 1130.60, 1124.40 & 1118.

Interim resistances are at 1137.50, 1143.50 & 1165 with minor resistances at 1143, 1157 & 1166.50.

The daily/weekly trend changer points are at 1166.40/1172.30.

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Gold Trends (27 August 2015) - Updates of Mib Agenti

The word Shemitah was whispered around dealing rooms as being the reason we are seeing what we are seeing in global events but it was to happen only in September.

Also, QE4 is being called for by some parties to stymie and probably pre-empt/salvage the situation before it becomes too bad.

So if QE4 do start, it will be a very different ball game.

Until it does, the trend changer point in the dailies was triggered and resting above at 1167.40 while the weekly point is at 1172.30, applying some pressure at the moment.

The medium term trending indicator is southwards bearing and have some way to go, maybe last 2 to 3 weeks before able to bottom out.

The weakness in the short term directional indicators are newly minted so possibly we may see fresh weakness with some vigour, for at least a week.

The green shoots seen earlier in the long term indicators has been suffocated and may take some time before a stronger signal emerges.

In the weeklies, the faster moving indicators just started showing some weakness but not has not reach frenzy level yet so ranges might not be so hectic.

Interim supports are at 1115, 1111.30 & 1105.50 with minor supports at 1118, 1103.50 & 1070.40.

Interim resistances are at 1128.50, 1133.50 & 1136.60 with minor resistances at 1132, 1142.20 & 1156.90.

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Gold Trends (26 August 2015) - Updates of Mib Agenti

Just a mini update in the interim till I'm fully back tomorrow.

Gold has been on cue, reaching higher but not too high and now fresh pressure is on in the past few sessions since.

Just taking a quick/basic reading, it will be likely selling pressures  continue in the short term, that is, at least till the end of the week.

Interim supports are at 1103.60, 1094 & 1086.50 with minor supports at 1118, 1103.50 & 1070.40.

Interim resistances are at 1129.50, 1135 & 1138 with minor resistances at 1132, 1142.20 & 1157.

The daily/weekly trend changer points are at 1168.40/1172.30.

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Gold Trends (19 August 2015) - Updates of Mib Agenti

Ahead of the FOMC, gold has started pushing on the resistances.

With gold above 1125, gives it a jollier outlook.

However, closing above 1125 is essential and closing above 1130 will be catalyst to gold having a go at 1150.

Having said that, where it closes is of lesser importance than the FOMC decision later.

The short term directional indicators are attempting a forced turning here from the middle of the field.

The medium term trending indicators has straightened out slightly and steeper than yesterday.

The long term directional indicator has crossed over and if momentum/volatility concurs, might keep gold firmer and higher.

In the weeklies, the faster directional indicators are almost reaching the overdone zone and if current direction is maintained, than this correction will probably over in about 4 weeks' time.

The medium term trending indicator is crossing over but gold must close above 1130 by week's ending and then it's confirmed.

However, gold has a bad habit of letting the market recover to such an extent so that it might look good technically but unconfirmed (on some charts), just below crucial resistances, and smash it lower after that, and catching the break out chasers.

Interim supports are at 1114, 1094.50 & 1087 with minor supports at 1103.50, 1070.40 & 1030.80.

Interim resistances are at 1131.20, 1164.50 & 1181 with interim resistances at 1132, 1142.20 & 1156.90.

The daily/weekly trend changer points are at 1100.35/1180.55.

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ps MIB will be away and back on 27 Aug.

Gold Trends (17 August 2015) - Updates of Mib Agenti (Missed)

In the dailies, the trend changer point was triggered almost 1 month back and slowly creeping higher after that and resting at 1094.25 today.

Gold should have taken a greater advantage by pushing higher instead of just coasting higher on a leisurely pace.

The faster short term directional indicators have just turned or crooked, adding some light pressure.

The medium term trending indicator is still fine if we manage to test and best if closes above 1120's.

The daily highs/closes must be above that of the previous day if the trend can be maintained in the interim.

If gold stays below 1120 or worse, close below 1110, then, even that would have turned.

The weekly charts continue improving marginally and so far, nothing to suggest any strong moves for now on it's own merits.

Interim supports are at 1109.50, 1105.50 & 1084.50 with minor supports at 1070.40, 1030.80 & 1023.80.

Interim resistances are at 1124.50, 1128.80 & 1131.50 with minor resistances at 1123.20, 1132 & 1142.20.

The weekly trend changer point is at 1180.55.

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Gold Trends (18 August 2015) - Updates of Mib Agenti

In the dailies, with gold stalling just below key resistances and it's inability to conquer and hold above it, makes it an easy target, like a sitting duck.

What is not good is the short term trending indicators which have turned down, with some down side bias. 

The turning is almost near the top of the apex meaning it is newly minted. 

So, if gold still refuses to push higher to void that, it will be under pressure maybe for the next 2 weeks from here on. 

The medium term trending indicator is attempting to make the turn (lower) and just showing slight signs of exhaustion but that easily be remedied. 

The longer term indicator has gone into a stasis and market maybe range bound until new inspiration is introduced. 

The weeklies short term directional indicator has recovered and bearing north and the medium term trending indicator has recovered sufficiently and may cut upwards, and we get some length on the upside.

Interim supports are at 1109.50, 1087 & 1080 with minor supports at 1103.50, 1070.40 & 1030.80.

Interim resistances are at 1125, 1129 & 1132.30 with minor resistances at 1123.20, 1132 & 1142.20.

The daily/weekly trend changer points are 1097.45/1180.55 - NB daily point creeping higher, triggering soon?

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