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

I was called away for some urgent business meetings and only just landed. 

Anyway, in the daily charts, the short term directional indicators are submerged below the oversold region at the moment and just a tad shy off the bottom. 

From here on, gold needs to do one sudden and massive push lower as, if it manages to hold above 1305, might see some retracements in couple of days as the indicators will have likely turned back up for the higher. 

The medium term trending indicators are well below the surface and might even challenge or mirror the previous trough. 

If that happened, we could see gold dipping towards 1250. 

The long term trending indicators have finally confirmed their intent about 4 days back and bearing down on the market like dead weights while one is trying to keep his head above water. 

The momentum/volatility indicators are a joke. Even with gold breaking below 1309, a previously arguably strong support level, hardly tickled the momentum and remains unexcitable. 

Maybe a closing below the 1309 and nearer the 1305 level could excite it by 2 iotas and thereby, exert upon itself a greater force after that.

Interim supports are at 1305, 1266 & 1243.50 with minor supports at 1303.60, 1301 & 1298.30.

Interim resistances are at 1322.50, 1325.50 & 1336 with minor resistances at 1315.50, 1327.80 & 1335.30.

The daily/weekly trend changer points are at 1355.70/1276.90.

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Gold Trends (22 August 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators briefly touched the 50% mark before succumbing to selling pressures and is now in the middle of trying to turn back lower. 

However, the turn is not yet confirmed and so, might spell some resistance to selling pressure and may see the odd bounce up. 

The medium term trending indicators did not fare as well and in fact, has now turned for the lower and again prodding the parity line. 

I am seeing a confirmed turning here and it is trying to push below the parity line but it must start running lower in order to be effective or else, it will turn into another failed signal. 

The long term directional indicators have again gone in a limbo walk as the market did not remain in any particular direction in a sustained time frame and thereby, this indicator has gone sideways again. 

It needs gold to thrash the 1300 by the end of week or push above 1380 or else it’s going to swim in a canal with a wide girth, unsure which side to head for. 

The momentum/volatility indicators are festering in it’s own juices as the market is unable to break out in either direction. For now range traders will rule the mountain.

Interim supports are at 1331, 1317 & 1299 with minor supports at 1327.80, 1315.50 & 1303.60.

Interim resistances are at 1342, 1353.50 & 1364 with minor resistances at 1352, 1380.80 & 1386.25.

The daily/weekly trend changer points are at 1374.90/1270.65.

Note: The daily trend changer point was triggered in Asian hours. 

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

In the daily charts, the short term directional indicators are pushing a little higher despite the softening price. 

It just managed to push slightly above the 50% mark, a slight idiosyncrasy in the making. 

The medium term trending indicators is almost in the same position. It 

has now produced a beautiful cutting up, but will any follow through be seen later on? 

With the prices slipping, it is a little hard to see it happening too soon as the longer it stays away from the recent highs, will soon turn this indicator back lower. 

The long term directional indicators are trying really hard to go into a position where it underpins gold where it is now but is still at least a week shy of that happening. 

In the meanwhile, a lot of things can happen during that time and if gold slips and closes below 1340 at today’s closing, the chances of that happened is severely dimmed. 

The momentum/volatility indicators are continuing to suggest that market will continue in tight ranges and a good idea to whip out the looping orders to be worked and take a vacation in the meanwhile, but maybe just for a week.

Interim supports are at 1343.60, 1339.10 & 1332.10 with minor supports at 1335.30, 1326 & 1315.50.

Interim resistances are at 1353.90, 1367.60 & 1373.320 with minor resistances at 1352, 1380.80 & 1386.25.

The daily/weekly trend changer points are at 1337.20/1264.

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

In the daily charts, gold deliberated for a long while before finally deciding to just pop a little higher in the Asian hours. 

With that, the short term directional indicators look a little revived and cruising around the 40% mark. 

However, the problem with an Asian move is, it usually lacks punch and normally, will give back some or all of the gains either after London or New York sessions starts and a new equilibrium will be found. 

The medium term trending indicators have also similarly and decisively pulled back above the parity line and cut up for the higher. 

I am still waiting to see what the market can make of it and hopefully, profit from the signal generated. 

The long term directional indicators continue to be sidelined but an early move to underpin prices could be in the works if prices continue to rise slowly higher over the next week and a half. 

That is, it must consistently close a tad higher each day until the market’s inertia is broken by the torque generated and forcing it into a good rally. 

The momentum/volatility indicators have crept up just a notch and are unlikely to do very much in the next day or two and have just a hint of bullishness. 

Range traders continue to rule.

Interim supports are at 1344.50, 1339 & 1331.50 with minor supports at 1335.30, 1327.80 & 1315.50.

Interim resistances are at 1352, 1368.50 & 1374 with minor resistances at 1352, 1380.80 & 1386.25.

The daily/weekly trend changer points are at 1336.75/1264.

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Gold Trends (17 August 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators although near the oversold region, has not recovered fully and merely reached the 30% mark before starting to look sickly again. 

In fact it is now trying to turn back lower. 

However the glaring question is, even if it were successful to turn it lower, being so near to the oversold region, how far will it really run? 

The medium term trending indicators had initially retracted just a tad above the parity line, like cringing from the cold and on the verge of crossing back over but it never really did. 

So if a fresh torrent of selling comes into the market, support could easily be eroded as the indicator is still negative biased. 

The long term directional indicators straightened itself out and unlikely to have any bearing for another 2 weeks. 

It is a pity as it come slightly close to being confirmed and as quickly, unraveled itself. 

The momentum/volatility indicators are no fun at all as more consolidation is in the immediate future. 

It is like, we are all trying to enjoy a roller coaster ride but it’s being pulled by a tortoise. 

Hopefully the FOMC minutes in a few hours time will be enough to kick start something bigger.

Interim supports are at 1341.50, 1338.50 & 1331 with minor supports at 1335.30, 1326 & 1315.50.

Interim resistances are at 1348, 1366.50 & 1384 with minor resistances at 1352, 1380.80 & 1386.25.

The daily/weekly trend changer points are at 1335.15/1264.

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Gold Trends (15 August 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators is trying to head of fresh selling pressure but attempting to pull it back higher as it is just slightly above the oversold region. 

In normal market conditions, it should have pulled back higher by now. 

However, it is a little worrisome that it still has not pulled higher. 

So, it could be an early signal that perhaps, the highs are in place for now. 

The medium term trending indicators have made contact with the parity line but other than that, not much else happened. 

Usual market reactions to that would have some follow through selling but it is just holding at the parity line and could be easily overpowered and turn back higher again. 

If the long term directional indicators are still working as it should, then, as gold is tending lower and if it succeeds in keeping it below 1340 and better yet, below 1330 by the week’s end, could see gold testing lower very soon. 

The momentum/volatility indicators are in a dire situation as they are at such low levels, will continue to keep movements tightly reined in, suffocating the traders and continue to keep the market disillusioned.  

We just need some fresh geopolitical news to bring gold out of hibernation.

Interim supports are at 1338, 1330.50 & 1325 with minor supports at 1327.80, 1315.50 & 1303.60.

Interim resistances are at 1343.50, 1361.50 & 1370.50 with minor resistances at 1352, 1380.80 & 1386.25.

The daily/weekly trend changer points are at 1333.50/1264.

Get Gold Trading Chat (Android), excerpts from there

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

In the daily charts, the short term directional indicators had a prong just touching the oversold region and if it still refuses to break below 1330 as the week’s ending is nigh, the indicator will likely attempt to turn around from here. 

If successful, then we will likely see some attempts on the upper side next week. 

The medium term trending indicators on the other hand is not so complementing as it has just touched the parity line but the market could be trying to disguise its hand by pushing it a little higher, lest any players decide to piggy back on its efforts and profit from it by confusing and confounding everybody and maybe themselves in the process. 

The long term directional indicators is really just lazing around and no meaningful inference can be extracted at this juncture. 

It will likely be another month and a half before any undercurrent becomes apparent. 

The momentum/volatility indicators are really at such low levels, it might be better trying to play the range for at least another week or two.

Interim supports are at 1346, 1341.50 &1333.50 with minor supports at 1335.30, 1327.80 & 1326.

Interim resistances are at 1368, 1371.50 & 1380.50 with minor resistances at 1380.80, 1386.25 & 1410.

The daily/weekly trend changer points are at 1331.80/1256.95.

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

In the daily charts, the short term directional indicators are drifting lower and towards the oversold region and just a day or two shy of hitting the spot, languishing around the 30% level.

The good news is, only one of 2 things can happen. 

The first being, a complete meltdown and the second is, market continues ranging and a failed attempt at pushing it lower by the week’s end and a recovery higher next week. 

The medium term trending indicators tried hard to cross back higher and the lines were so near to crossing over that they were literally sniffing each other’s butts and failed. 

At the moment, they have almost started repelling one another, pushing it lower, and may open up to fresh selling, if and when it happens. 

The long term directional indicators looks absolutely complacent and almost having no ripples. 

From the looks of it, gold could well be stuck for another 2 months, a gloom period for the position traders but good news for the range traders. 

The momentum/volatility indicators are looking solidly in deep hibernation at the moment and would need a really strong catalyst to heat up the elements to get it moving in a bigger way. 

Or at least, stir it up a little more than the current range.

Interim supports are at 1348.50, 1343.50 & 1334.50 with minor supports at 1335.30, 1327.80 & 1322.60.

Interim resistances are at 1366.50, 1372.50 & 1380 with minor resistances at 1380.80, 1386.25 & 1410.

The daily/weekly trend changer points are at 1330/1256.95.

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Gold Trends (10 August 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are posing lower despite the little filip done in the Asian hour so that could possibly be an Asian thing.  

That is, the market will likely correct itself as the earlier move was slightly against the grain. 

The medium term trending indicators, since the last update, came off and almost flirted with the parity line but somehow managed to keep its nose clean and started holding up and pulling back higher, like the recoil of a bungee cord. 

However, where it is now, it is feebly higher and the earlier soft stance has not been overridden and failure to cut back higher and close above 1360, could doom gold and the indicator may test the parity line by the end of the week. 

The long term directional indicators are still in the middle ground without any queues of a favoured side yet. 

It will so remain for at least another week and half. 

The momentum/volatility indicators are really at desolate levels and would need massive news to awaken the giant. 

It could be the summer doldrums but it could just be, the Olympic effect. 

Whatever it is, keeps gold tightly range bound at the moment, but with a slight tinge on the upper side.

Interim supports are at 1342, 1335.50 & 1329.50 with minor supports at 1315.50, 1303.60 & 1301.

Interim resistances are at 1350, 1370 & 1375 with minor resistances at 1352, 1380.80 & 1386.25.

The daily/weekly trend changer points are at 1329.55/1256.95.

Note: the daily point is almost ripe for the picking.

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