Gold Trends (31 May 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators, as dreaded, have managed to secure a turning here, albeit a day earlier than anticipated. 

Anyway, coming from such a low level and if the journey is smooth, might see gold recover back to at least 1235 levels.  

The medium term trending indicators have gone really deep and showing the faintest signs of trying its hand for some retracements due to gold shying away from yesterday’s low. 

This can be quickly ironed out should gold decide to ease back to recent lows but, having run such a course, lows for now may have been had. 

The long term directional indicators are showing slight tapering as selling may be curbed for now. 

Vigour will be renewed if gold thrashes and closes below 1200. 

The momentum/volatility indicators are losing a little steam and the bullish bias is starting to show a little weariness. 

It seems like gold may be going to be traipsing around for some more time as the next set of news or geopolitical tensions leads it along where gold is willing to follow.

Interim supports are at 1199, 1192.50 & 1188 with minor supports at 1208.80, 1200.10 & 1178.60.

Interim resistances are at 1224, 1228.50 & 1238 with minor resistances at 1222, 1231.40 & 1240.70.

The daily/weekly trend changer points are at 1257.80/1303.60.

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Gold Trends (30 May 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are pushing towards the floor right now and its near enough too. 

Due to it not keeping near to the earlier lows in Asia, the descent lower and recoiling back higher will encourage tapering. 

If the recent low is not breeched soon with a closing below that, the indicator will go into recovery in another 2 days. 

The medium term trending indicators looks spent and may have run its course at the moment and it may yet bottom out from here. 

However, if sellers bunch together and continue with the onslaught, we may continue to enjoy the slide for a wee bit longer. 

The long term directional indicators came off a sharp gradient and nothing to suggest that the fall is over yet. 

The only thing keeping it from a freefall is the supports along the way as each time it surpasses one, some heat (strength) is taken off. 

The momentum/volatility indicators are gearing higher from the week before, all it needs is a 30% increase from current levels and gold will happily run along lower. 

The bearish bias is also deepening and the push might become a shove.

Interim supports are at 1198, 1188.30 & 1165 with minor supports at 1200.10, 1178.60 & 1168.70.

Interim resistances are at 1227.60, 1233.30 & 1237 with minor resistances at 1218.50, 1231.40 & 1238.

The daily/weekly trend changer points are at 1267.20/1301.60.

Happy Holidays to my friends in the US and UK.

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Gold Trends (26 May 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators seem to be having the smallest of a kink forming in the oversold zone. 

Temporary reprieve may be likely whilst it recovers in the interim, for a day or two. 

After that, collusion with the other indicators is crucial if it should continue lower or recover further. 

The medium term trending indicators are still downward bearing and may only have sufficient length to last a week or so before it starts looking overdone. 

The long term directional indicators although it is nicely formed with nothing to suggest weariness of the trend, the only worry it is short-lived due to either news or geopolitical tensions. 

The momentum/volatility indicators are agnostic of what’s happening right now and remains not in the littlest bit likely to pump up the volumes anytime soon with the slight tinge of softness reversing a little.

Interim supports are at 1211, 1200 & 1190 with minor supports at 1218.40, 121.60 & 1208.80.

Interim resistances are at 1232, 1240.50 & 1249.50 with minor resistances at 1238, 1242 & 1252.

The daily/weekly trend changer points are at 1282/1303.60.

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

Gold has indeed come nicely lower today. In the daily charts, the short term directional indicators are pushing lower into the oversold zone.  

At the rate of the decline and the level of this indicator at the moment, we will be lucky if gold managed to test at least 1200 but by that time, the indicator might be hitting the floor. 

The medium term trending indicators is looking fast and furious and giving the move a little bit of spine but from where it is now, maybe we only have left another week of weakness.  

The long term directional indicators are set on a solid path at the moment and the market will likely continue to adopt a soft stance stretching out for another 2 weeks. 

Reprieve will only came from news or geopolitical tensions. 

The momentum/volatility indicators are keeping to a softer approach and surprisingly, although market has come down quite a bit, the indicators are not yet roaring.

Interim supports are at 1215.50, 1201.20 & 1189.60 with minor supports at 1212.60, 1208.80 & 1200.10.

Interim resistances are at 1224.50, 1230 & 1245.50 with minor resistances at 1222, 1231.40 & 1238.

The daily/weekly trend changer points are at 1289.20/1303.60.

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

In the daily charts, the short term directional indicators has a single prong just pushing into the oversold region whilst the other, is still a little way off. 

Hopefully this push lower is of substance and maybe we are able to see gold back to the 1200’s levels. 

It will be a great relief for those celebrating the Eid festival, soon, to be able to enjoy their seasonal gold fixes at lower rates. 

The medium term trending indicators have now penetrated deeply below the parity line and usually, it will continue on for at least another week. 

My friend reminded me that actually a text book example of a classic divergence, had previously formed but the reaction seemed retarded and only now, it’s started on it’s journey lower.  

The long term directional indicators have crossed over and bearish tones are set. 

Since it’s newly confirmed, the tone may last up to 2 weeks. 

The momentum/volatility indicators are in a weak phase right now but it seems to be missing the necessary intention to get off its butt and start moving. 

Hopefully we might be able to turn up at least 3 notches an gold should be finally on it’s way. 

If not, any move lower will be hard fought to overcome every support below.

Interim supports are at 1232, 1220.50 & 1206 with minor supports at 1228, 1218.40 & 1208.80.

Interim resistances are 1236.50, 1243.50 & 1252.50 with minor resistances at 1238, 1251.70 & 1268.30.

The daily/weekly trend changer points are at 1294.70/1303.60.

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Gold Trends (20 May 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are pushing lower and almost reached the 30% level. 

It is also a tad too near the oversold region, so depths on this drive lower might not going too deep.  

The medium term trending indicators has a confirmed penetration of the parity line at yesterday’s closing.  

Typical market behavior in such circumstances will be, the market will be dribbling around here, trying to hold the parity line. 

This trending indicator might have difficulty pushing lower initially before finally succumbing and we might see gold have a nice drop of at least thirty to forty dollars. 

However, all the other necessary ingredients must be in collusion. If all for one is not possible, then we at least need three of them. 

The long term directional indicators look promising at the moment and they have come together and a good chance for the indicators to be confirmed for a spin lower. 

However it has only come together and not conclusively crossed the line and the confirmation maybe averted should gold close back above 1265 tonight. 

The momentum/volatility indicators has hit rock bottom and may rocket back the other way. 

There is also a tinge of bearishness appearing but can be easily overpowered if gold goes back higher.

Interim supports are at 1248.50, 1241.50 & 1236.50 with minor supports at 1239.30, 1228 & 1218.40.

Interim resistances are at 1256.50, 1259.50 & 1264.50 with minor resistances at 1268.30, 1272.20 & 1278.30.

The daily/weekly trend changer points are at 1300.30/1233.40.

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Gold Trends (19 May 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators have finally crossed and downwards bearing and a pity it’s below the 50% mark. 

That results in less room to push lower before hitting the oversold region. 

Anyway, it didn’t push much lower even as gold was just nearby the 1250’s level. 

The medium term trending indicators on the other hand, put up a nice performance today. 

In one fell swoop, it has pierced the parity line with the move today. 

However, the key to confirming the move, vis-à-vis sustainability, gold has to close below 1250 for today. 

Failing which, that is, it closes above 1260, then it will likely undo the earlier advantage of the selloff and pull it’s hem line back above the parity line. 

The long term directional indicators are very close to triggering a bearish signal but are yet unconfirmed. 

Until it’s confirmed, it has every chance to salvage itself and change the outlook again. 

The momentum/volatility indicators have gone lower by 2 notches and possibly unlikely to push too far from nexus. 

It is looking a little like the long term indicators, that is, it is very close to start looking bearish but still unconfirmed. 

So if the momentum doesn’t build up and the direction change signals does not confirm, we might see a reversal any time soon.

Interim supports are at 1243, 1233 & 1206 with minor supports at 1239.30, 1228 & 1218.40.

Interim resistances are at 1256, 1259.50 & 1266.50 with minor resistances at 1268.30, 1272.70 & 1278.30.

The daily/weekly trend changer points are at 1302.65(triggered today)/1233.40(nice if triggered).

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

In the daily charts today, the short term directional indicators are trying to do a bendy here. 

That is, attempting to cut and cross back lower just as it neared the 50% mark. 

That just sets one mulling, why the market has been having such a hard time breaking out of the current range and quite possibly, the market is near equilibrium at the moment. 

The older buyers are turning into sellers but with new buyers taking over the positions, albeit at a higher cost. 

Unless there is a decisive winner, the market may continue in this range for some more time. 

The medium term trending indicators have resumed partially downwards towards the parity line, with just a stump sticking towards that direction but still a distance away from it. 

The long term directional indicators are still inconclusive but depending on where it is keeping the next week, will be helpful to determine gold’s next direction. 

If it keeps lower and nearer 1250, then it should generate a bearish bias and 1285, to generate a more bullish bias. 

The momentum/volatility indicators are showing a weak pulse but with a slight bias upwards and will need gold to test at least 1235 before it can be converted.

Interim supports are at 1261, 1257 & 1252 with minor supports at 1267.20, 1256.50 & 1239.30.

Interim resistances are at 1281.50, 1288.50 & 1302 with minor resistances at 1277.30, 1291.40 & 1305.90.

The daily/weekly trend changer points are at 1265.50/1233.40. 

The daily point is so near you could almost smell it and hopefully it ripe for plucking.

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Gold Trends (16 May 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators have managed to pull towards the 45% level now. 

Having done that, it should be taking advantage of the recovery in the indicator and hopefully push a little higher towards 1300. 

It is wasteful to be looking gorgeous but turns out to be a dud. 

The medium term trending indicators are trying really hard to muscle back into the positive territory. 

It is on the verge of doing just that but needs gold to be closing at least 1285 before it’s confirmed. 

The long term directional indicators are looking none the better than it did last week and it will probably remain anaemic for another week or so as it awaits news to revitalize and new ranges might be seen after that. 

The momentum/volatility indicators while at ultra low levels, remain borderline positive as the jaws of fortune are widening a little.

Interim supports are at 1271.50, 1262.50 & 1258 with minor supports at 1270.60, 1267.20 &1256.50.

Interim resistances are at 1284, 1291 & 1301.50 with minor resistances at 1277.30, 1291.40 & 1305.90.

The daily/weekly trend changer points are at 1262.65/1233.40.

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Gold Trends (13 May 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are trying hard to stop dribbling lower and holding just around the 35% level. 

If it manages to hold off for today’s closing, it may yet bottom out in the short term and pull the other way next week. 

The medium term trending indicators are pulling up short of the parity line as well and looks like it may be trying somersault the other way but it is still too early to tell for now. 

The long term directional indicators are looking lacklustre at the moment and may continue to look uninspiring for the next week or two as it is still stuck in the middle unable to push either way forcefully enough for now. 

The moment/volatility indicators are looking dreadfully dull and that explains the behaviour of the market at the moment. 

Noting that at the moment, it remains mildly positive until it crosses the lines to the other side. 

Recent news must have been too repetitive, such that the market is now callous to it and remains unmoved.

Interim supports are at 1261.50, 1256.50 & 1250 with minor supports at 1267.20, 1254.80 & 1239.30.

Interim resistances are at 1275, 1292.50 & 1304 with minor resistances at 1277.30, 1280.40 & 1291.40.

The daily/weekly trend changer points are at 1260/1221.95.

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Gold Trends (12 May 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators managed to slow it’s descent and even pull cringe back a little such that it’s around the 38% mark. 

The medium term trending indicators have pulled nearer to the parity line and if luck be on the sellers’ side, we might just as well be testing it before the week is out. 

The long term directional indicators are still mired in the middle and no clues yet as to the next direction yet. 

However if everything continues to remain soft for another 2 weeks, then we may see it cutting for the lower. 

The momentum/volatility indicators are slipping away quickly but by no means has it taken a soft stance yet. 

It could just be it’s going into hibernation for now and may yet roar to life, when the winter is over. 

Hopefully, it’s stance will not be commandeered when it re-ignites.

Interim supports are at 1261, 1255 & 1249.50 with minor supports at 1254.80, 1239.30 & 1228.

Interim resistances are at 1271.50, 1277.50 & 1296.50 with minor resistances at 1272.70, 1277.30 & 1280.40.

The daily/weekly trend changer points are at 1257.25/1221.95.

Note – the daily point has almost come into play J so if it’s triggered, maybe some down time soon.

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Gold Trends (11 May 2016) - Updates of Mib Agenti

Being called back to my head office kept me away from the markets for almost 2 weeks but I am glad to be finally home. 

Gold only managed to climb to around 1300 before shying back and that certainly leaves a black mark on its recent performance. 

In the daily charts, the short term directional indicators had merely left an imprint at the overbought zone before forcing itself back lower and it’s around the 35% mark. 

In the medium term trending indicators, the ugly mark is more clearly seen is an undeniable divergence has emerged and it is now heading back towards the parity line. 

That may be reached by the week’s end.  

The long term directional indicators which were having a brief run upwards have now been cancelled and it will take at least a couple of weeks before a new direction solidifies. 

The momentum/volatility indicators enjoyed a brief flurry but has just as quickly, tumbled and receded into passivity at the moment. 

We need new stimulus to crank it up a few notches again and hey days might be had again. 

So even with some of the indicators showing signs of weakness, due to the low momentum, sellers might not get their day.

Interim supports are at 1272, 1261 & 1256 with minor supports at 1270.60, 1267.20 & 1256.50.

Interim resistances are at 1280, 1300 & 1304 with minor resistances at 1278.30, 1291.4 & 135.90.

The daily/weekly trend changer points are at 1256.20/1221.95.

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