Gold Trends (14 December 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are cutting lower today as gold is continually closing lower and so, the indicators are motivated to go back to looking soft. 

It has come off to the 35% level and not much length to go before it contacts the oversold region. 

Only if the recent lows are compromised, otherwise, it might just careen off the oversold region and push back a little higher. 

The medium term trending indicators are tapering off, but have not yet yielded to the attempts to push gold lower and continue keeping itself more positively. 

Possibly, a closing below 1155 would do the trick and with follow through selling behind it, could send gold back to the 1100’s. 

The long term directional indicators are so close to each other and only needs gold to push and close back above 1178 at the minimum to cancel out the bearish tones. 

Once that’s done, gold could retrace back towards 1200 in the interim. 

The momentum/volatility indicators are still maintaining status quo, that is on the high side but, without the forces building up with the only advance being, it could easily become more forceful ad libitum and build up into something sizeable and purposeful. 

There is just but the tiniest of a shadow that the negative bias, gap, getting just a tad narrower and still too early to confirm if more recovery is in order.

Interim supports are at 1153, 1146 & 1139 with minor supports at 1161.50, 1156.30 & 1144.60.

Interim resistances are at 1167, 1178 & 1194 with minor resistances at 1170.20, 1177.20 & 1183.50.

The daily/weekly trend changer points are at 1168.75/1296.65.

Note: The market maybe looking for a cheap way to change the tone of the market and waiting for the daily trend changer point to come into play and take less resources to trigger it off.

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

I was called away for some official business and just back today. In the daily charts, the short term directional indicators had recovered back to the 45% level before being pulled back lower and also cut downwards. 

There is some probability that recent lows might be breached as there is some height at which the indicators are turning down from and should be pushing back into the oversold region in a couple of days at the earliest. 

The medium term trending indicators have recovered back to the parity line but the gradient of the ascent is steadily tapering but the direction has not been averted yet. 

A closing below 1155 will very likely cause a change in the direction but this must be achieved by the week’s end or the job becomes doubly hard.  

The long term directional indicators are southward bearing and came very close to being negated but it somehow stubbornly refused to be cowed.  

The momentum/volatility indicators almost reached the stage where it was going to start to boil but as quickly as it crept up, it has gone on to a holding position.  

Even if it manages to continue holding, at the opportune time, it could start a fresh assault at the lows and go into a running pace. 

The negative bias is similarly is holding steady, neither increasing nor decreasing.

Interim supports are at 1155, 1146 & 1137.50 with minor supports at 1156.30, 1144.60 & 1132.80.

Interim resistances are at 1167, 1172 & 1180.50 with minor resistances at 1166.50, 1189.60 & 1191.

The daily/weekly trend changer points are at 1173.10/1296.65.

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Gold Trends (8 December 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are creeping up surely but slowly. 

It has crept to above the 40% mark now but gold is just not moving higher with the indicators which makes one concerned if gold is going to try to move higher at all. 

The danger being that the indicators continue higher while gold is stuck and once these indicators move too high, it turns and gold is will be caught in the crossfire and suffer yet another sell off, hopefully not a major one when that happens. 

The medium term trending indicators are recovering really well and come back up about a third when it sold off. 

The long term directional indicators negative bias have almost been negated and if gold still holds nearer the 1980’s, it will be done. 

The momentum/volatility indicators are down a couple of notches and the negative bias gap is narrowing but is a long way off from being converted any time soon.

Interim supports are at 1160.50, 1158 & 1145 with minor supports are at 1168.70, 1161.50 & 1156.30.

Interim resistances are at 1177, 1192.50 & 1195.50 with minor resistances are at 1180.70, 1185 & 1191.

The daily/weekly trend changer points are at 1181.55/1315.85.

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Gold Trends ( 7 December 2016) - Updates of Mib Agenti

I am just back for a week before zipping off again. 

In the daily charts, the short term directional indicators have recovered remarkably well but gold prices have not been in tandem. 

The indicators have now recovered to around the 35-40% mark and looks like it might hold there. 

This could mean a springing effect on gold prices later, failing which, if the indicators recover too high, that is around the 70% mark, could mean another round of bashing of gold with new lows being made. 

The medium term trending indicators are poised similarly and northwards bearing, pushing off from a low level still and well below the parity line. 

Should gold start running higher towards the year’s closing, i.e., Capricorn effect or even funds’ book closing, might see gold pushing and closing above at least 1200 for the year. 

The long term directional indicators are on their last frontier and almost on the verge of converging and cancelling the soft bias, which is slightly long drawn. 

In all likelihood, this will be achieved by the week’s ending. 

The momentum/volatility indicators are about 3 notches before the market turns hot and the negative bias is turning slightly more positive as the gap is narrowing a little.

Interim supports are at 1160.50, 1144 & 1139 with minor supports at 1168.70, 1161.50 & 1156.30.

Interim resistances are at 1178-.50, 1194 & 1199.50 with minor resistances at 1180.70, 1185 & 1191.

The daily/weekly trend changer points are at 1187.70/1315.85.

Get Gold Trading Chat (Android), excerpts from there