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

In the daily charts, the short term directional indicators have pushed very nicely lower over the past few days. 

However, the descent was a little too speedy, having reach around the 40% mark now and could mean that lesser room to be trying lower later on. 

There is also the fear that the market might recover from here if it manages to keep well of the lows. 

The medium term trending indicators have stretched out lower as well and closer to the parity line. 

However it looks like it is flattening out and a mini recovery could be in the process. 

The long term directional indicators were negated last week and a new directional was almost in the making except that the market lacked sustaining power and rebounded. 

This could set in motion going into a consolidation phase, trapped in some middle ground as it ponders its next major move. 

The momentum/volatility indicators have dropped off to a very low level and the earlier positive bias came to within a hair’s breadth of being compromised but the sudden rush up has averted that for the moment. 

So it remains mildly positive at the moment but could build into a rush later on.

Interim supports are at 1201.50, 1197.50 & 1194 with minor supports at 1200.10, 1190.60 & 1182.50.

Interim resistances are at 1218, 1223.50 & 1226 with minor resistances at 1218.50, 1221.70 & 1231.50.

The daily/weekly trend changer points are at 1213.80/ 1128.05.

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

In the daily charts, the short term directional indicators have been pushing lower only to around the higher 50% level. 

Looking at the ferocity of the moves the past couple of days, gold seems to be very malleable and turning into putty so, if our luck holds out, could send gold right back to 1130’s level soon enough. 

The medium term trending indicators are still nicely pouring lower and half way towards the parity line and if it manages to clear that, could be in for another big drop. 

However, gold must take advantage of the pent up forces lest let it tarry and it will dwindle and goes the chances to send it lower. 

The long term directional indicators have officially crossed over and the positive bias has been negated. 

If market moves quickly enough, the new direction could be set as quickly by next week. 

The momentum/volatility indicators are pushing lower by a couple of notches and the positive/negative poles are pulling nearer but not in immediate danger of cancelling each other out with the positive bias still on top.

Interim supports are at 1188.50, 1170 & 1162.50 and the minor supports at 1182.50, 1178.60 & 1168.70.

Interim resistances are at 1194, 1203 & 1207 and the minor resistances at 1196.70, 1207.50 & 1210.20.

The daily/weekly trend changer points are at 1219.60/1124.25.

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

In the daily charts, the short term directional indicators have come off further today and languishing around the 65% level now. 

Finally, all that pressure exerted had some bearing on gold which have pushed below 1210 now. 

If this indicator continues to take the lead, gold could continue lower till the middle of next week with the target zone at 1165. 

The medium term trending indicators are bearing down beautifully and dropping off from a great height. 

It is a long way off from the parity line and will be fun to watch it cascade like a waterfall. 

The long term directional indicators’ gap has closed considerably and almost at the point of cutting across and negating the positive stance. 

With that, it could send gold into teetered to a range for probably a couple of weeks. 

Just when it almost hit the tarmac rolling, the momentum/volatility indicators are receding quickly and the positive bias is getting less but still a far way of from being neutralized.

Interim supports are at 1194.50, 1189.50 & 1170.50 with minor supports at 1190.60, 1182.50 & 1178.60.

Interim resistances are at 1205, 1207 & 1219.50 with minor resistances at 1207.50, 1210.20 & 1218.50.

The weekly trend changer point is at 1124.25 and the daily trend changer point was at 1196.90 before it was just triggered.

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

In the daily charts, the short term directional indicators are pushing lower today around the 75% level now and continuing on its path lower. 

Gold is still putting on a noteworthy effort to continue keeping above the 1210. 

Seeing how it is playing out with the idiosyncrasy, it could just be the market and the technicals trying to resynchronise before figuring on the next best move. 

The medium term trending indicators are looking like a roller coaster, all ready for the drop, but how long more before it does? 

Anyway, the ride down if it happens, will be a very scary one. 

The long term directional indicators are pulling towards each other and almost colliding and cancelling the bullish tone but that will be nearer at least to the week’s ending. 

The momentum/volatility indicators are holding its own but it is veering a little more to the negative side.

Interim supports are at 1206.50, 1196 & 1191.50 with minor supports at 1212.60, 1206.80 & 1200.10.

Interim resistances are at 1221.70, 1228.50 & 1258.50 with minor resistances at 1221.70, 1231.40 & 1238.

The daily/weekly trend changer points are at 1195.95/1124.25.

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

In the daily charts, the short term directional indicators have been heavy leaden and looking downright weary and overdue for some correction which is just not happening. 

However, gold prices remain uncooperative and have totally resisted the confirmed signals generated by keeping to the higher side of recent ranges. 

The medium term trending indicators have peaked and also confirmed cutting down and bearing its full weight but somehow there are crosswinds about and keep it higher when it should lower. 

Trading looks set to continue to be testy for another week or so. 

Maybe the mice will come out to play as China takes the week off, stomach in chest out till they start their holidays before letting it out. 

The long term directional indicators are showing some signs of decay and the earliest possible confirmation could be the week’s ending before the positive bias is pre-empted. 

The momentum/volatility indicators are certainly at levels where things are supposed to start happening.  

The positive gap is also maintaining its hold at the moment, that is, it is becoming more negative.

Interim supports are at 1203.50, 1196 & 1188 with minor supports at 1212.60, 1208.80 & 1200.10.

Interim resistances are at 1219.50, 1221.50 & 1227 with minor resistances at 1218.50, 1231.40 & 1238.

The daily/weekly trend changer points are at 1195.45/1124.25.

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

I am in the midst of my trip so a full reading may not be possible but I couldn’t help noticing that the weekly trend changer point was triggered only today.  

This should set gold in a more solid position as it steadies itself around the 1200, building a base before probably pushing higher towards 1270. 

In the daily charts the short term directional indicators have pushed into the overbought zone but started bearing down. 

This signals that perhaps, a top is in place in the short term. 

The medium term trending indicators have surpassed the previous peak but sadly, look like it is faltering and deteriorating even as it managed to test higher and come to an impasse for now. 

The long term directional indicators continue to look positive without any withering and if gold does not close below the 1200’s, then it should continue to keep its own above the 1200. 

The momentum/volatility indicators are prepped nicely and almost ready to speed out of the gates, that is, it just needs to cross the line and deal done. 

Hopefully it takes advantage and makes something out of it after having come so far.

Interim supports are at 1194.50, 1187.50 & 1167.50 with minor supports at 1200.10, 1190.60 & 1182.50.

Interim resistances are at 1209.50, 1215.50 & 1218.50 with minor resistances at 1210.20, 1218.50 & 1231.40.

The daily trend changer point is at 1180.45.

Next update will probably be next week on the 23^rd when I am back in office.

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Gold Trends (09 January 2017) - Updates of Mib Agenti

Opps, I copied the wrong charts so I am doing a report on the weeklies instead. 

In the weekly charts, the short term directional indicators have pulled up towards the 50% mark now and still plenty of room to be running higher in the longer term. 

If the direction sustains, we could see gold maintaining on the higher side for at least 2 more months. 

The medium term trending indicators are freshly off the lows and confirmed cutting up for the higher and from the depths it is coming up from, sure have plenty of room to explore on the higher side. 

The first challenge is around the 1200 and once its cleared that, could bring 1240 into the bigger picture. 

The long term directional indicators are still nursing its wounds and the bearish overtones are nowhere near to being neutralized and it’s weeks away from the happening. 

However, there is a slight curvature as signs of the market trying to stymie the dribbling lower and hopefully, shore up the lows and have a rebound from here. 

The momentum/volatility indicators are down 4 notches and the earlier gains in getting more positive have pulled a little more to the negative side.

Interim supports are at 1175, 1166 & 1161.50 with minor supports at 1168.70, 1161.50 & 1156.30.

Interim resistances are at 1186.50, 1192.50 & 1199 with minor resistances at 1183.50, 1189.60 & 1197.

The daily/weekly trend changer points are at 1146.70/1217.70.

I will be away and only back on 23 Jan so stay safe.

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Gold Trends (06 January 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are having an appendage just making contact with the overbought zone.  

The move up is starting to look just a little weary as it ponders whether or not to push into the zone. 

In order to keep the direction alive, gold must not close too low tonight, that is, below 1170. 

If it did, then earlier part of next week could see gold going into a correctional phase. 

The medium term trending indicators have climbed really nicely but maybe a little too hastily such that, it has almost challenged the earlier peak and if doesn’t surpass that, then 1200 would likely hold gold under. 

The long term directional indicators are looking royal right now and plenty of headroom for future endeavor and exploration.  

However, a bad closing, that is 1160, would send this back into a consolidation phase. 

Otherwise, gold will likely be tending more on the higher side of things for at least a week or two. 

The momentum/volatility indicators have not been building up and in fact, gone status quo and pushing back a little to be less positive.

Interim supports are at 1174.50, 1171 & 1162 with minor supports at 1168.70, 1161.50 & 1156.30.

Interim resistances are at 1181, 1184 & 1191.50 with minor resistances at 1180.70, 1185 & 1191.

The daily/weekly trend changer points are at 1141.50/1233.25.

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Gold Trends (05 January 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are just a hair’s breadth away from pushing into the overbought region and haven’t taken the time to catch a breather yet. 

At the rate it is climbing, probably by today’s closing it would have broken through. 

So hopefully, we get a good run up on this rally. 

The medium term trending indicators are still ascending beautifully and if providence is in its favour, might just see gold trying as high as 1235 in the next week as it is well above the parity line now and likely to challenge the prior peak. 

The long term directional indicators are turning up nicely as well and could see this rally pushing higher, if not, at least keeping to the higher side of recent ranges, for at least another 2 weeks more. 

The momentum/volatility indicators are still two notches turning the warm market into a hot market, stubbornly refusing to push into the hot zone. 

At the same time, it is pushing further into the positive territory.

Interim supports are at 1171.50, 1157.50 & 1152 with minor supports at 1168.70, 1161.50 & 1156.30.

Interim resistances are at 1181, 1192 & 1212 with minor resistances at 1280.40, 1291.40 & 1305.90.

The daily/weekly trend changer points are at 1135.60/1233.25.

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Gold Trends (04 January 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators found within itself renewed drive and has in fact, overcame the earlier weakness and fully recovered it’s earlier direction to being northward bearing. 

However the only issue is, it is almost reaching the overbought region and once it pushes into the zone, failure to continually see it higher would jeopardise and threaten the current trend and before long, start to weigh down on itself. 

The medium term trending indicators are doing very nicely and with both appendages pushing above the parity line now. 

Hopefully convention takes over and we should see gold testing back to at least 1200 levels nearer the end of the week. 

The long term directional indicators have confirmed cutting up but remains a weak confirmation at the moment. 

Hopefully the confirmation gets stronger and we should see some attempts on the higher side and ought to keep gold rooted nearer the higher side of recent ranges for at least 2 weeks. 

The momentum/volatility indicators are today looking on the verge of a bonfire become a full fledge forest fire. It is just a couple of notches away from that happening. 

So hopefully we can finally get to see some fireworks soon compared to the dreary market of the past few weeks. 

The indicators are also peddling deeper into the positive zone.

Interim supports are at 1156, 1148 & 1125.50 with minor supports at 1161.50, 1156.30 & 1144.60.

Interim resistances are at 1171, 1173 & 1191 with minor resistances at 1168.30, 1177.20 & 1184.50.

The daily/weekly trend changer points are at 1132.05/1233.25.

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Gold Trends (03 January 2017) - Updates of Mib Agenti

Wishing Everybody A Very Happy New Year and Massive Returns for 2017. I was called away for business travelling before dropping my pen and only just back today. 

In the daily charts, the short term directional indicators are just around the 65% level and signs of some deterioration just as the indicators are trying to turn back. 

If successfully done, gold should be pressurized back lower to maybe around the 1130’s levels again. 

The medium term trending indicators have come to the parity line and just dribbling around it at the moment with one of its appendages just clinging above the line in the hope, the other one will be pulled soon after as well. 

The other appendage had better pull above the parity line soon or else it loses it forward inertia and retracements will be in short order for the recent move higher. 

As it is now, the steep climb higher is starting to flatten out just a wee bit. 

The long term directional indicators have managed to neutralize the negative stance and in fact, on the crux of confirming cutting over into a positive stance. 

However, gold needs to close above 1255 today in order for the confirmation to solidify, otherwise, it could send gold back to a trance with consolidation as the norm for at least 2 more weeks. 

The momentum/volatility indicators are inching up day by day but still at least 3 notches away for the market to enjoy a good run. 

Notwithstanding that, gold turned positive about 8 days back and going deeper into the positive territory. 

However, it must continually keep to the higher side of recent highs to avoid disruption to its current stance.

Interim supports are at 1147, 1143 & 1123.50 with minor supports at 1144.60, 1132.80 & 1124.40.

Interim resistances are at 1162.50, 1169 & 1189 with minor resistances at 1157, 1166.50 & 1177.20.

The daily/weekly trend changer points are at 1129.30/1233.25.

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