Gold Trends (30 June 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators resisted as best as it could but it is hard to stand in the middle of the river and not be moved against the torrent. 

So they have now cut across and bearing lower, adding fresh pressure on gold in its’ own way but there is no guarantee that gold will definitely be crushed as it has been holding its own and closing above 1240 for the past week. 

The medium term trending indicators have stopped climbing higher now and levelled off but no sign of it trying to cut across and back lower to the nether regions. 

This alone is not sufficient incentive to egg gold lower and needs some major news or event in order to fuel a bigger and sustainable move. 

A closing below 1239 will skewer the outlook, favouring a little more downside play next week and none too soon as the current range is totally exhausted. 

The long term directional indicators are not improving at all and could set itself up for some shut-eye right now and range play will likely rule for at least 1 more month before any the next direction becomes apparent. 

The momentum/volatility indicators are looking so gloomy right now and likely to be another gutter ball day, no strikes in sight. 

Somehow, overnight, the negative bias has come into being again and opening wider nicely so stick to range play but a good idea to set sights slightly lower.

Interim supports are at 1239, 1232 & 1220 with minor supports at 1239.30, 1228 & 1219.40.

Interim resistances are at 1248, 1255 & 1285.50 with minor resistances at 1251.70, 1268.30 & 1277.30.

The daily/weekly trend changer points are at 1257.50/1218.65.

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Gold Trends (29 June 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators were not able to carry it higher on such thin volumes much like running out of fuel before the destination is reached. 

A noticeable crook has formed but not cutting across and bearing lower yet. 

One can also say that the indicators have recovered by more than 50% so that could be sufficient height for a drop, and if its strong enough, may per chance, break and close below the 1239, should it decide to run down from here. 

The medium term trending indicators are slightly slanting upwards and higher, at a gentle gradient. 

The lower gold seen now, has not moved this indicator any nearer to cutting back across and changing the mood back to being negative.  

It needs gold to close nearer the 1230 before there is any chance that this indicator can be overpowered.  

The long term directional indicators remain uninspiring at the moment and it could at least another week before the new direction becomes obvious unless there are motivating factors and major news, that could coax gold one way or the other. 

The momentum/volatility indicators are merely drifting along and at such low levels, all by itself, sustained moves either way will be doubly hard and a speedy finger, being reactionary helps to maximize the range as the market doesn’t allow time for any deliberation or it is passe. 

The positive bias gap continues to become narrower but likely, still a day away when it has the chance to completely close and seal it, more probably will be turning negative after that.

Interim supports are at 1239, 1233 & 1220.50 with minor supports at 1239.30, 1228 & 1219.40.

Interim resistances are at 1249, 1255.50 & 1286 with minor resistances   at 1251.70, 1268.30 & 1272.70.

The daily/weekly trend changer points are at 1257.95/1218.65.

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Gold Trends (28 June 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators have pushed higher to around the 58% level now and continue bearing forcefully higher but this does not hold gold in good stead. 

There seems to be a disconnect between the indicators and where the actual gold price really. 

With the gold not complying, makes one wonder if the indicators are merely just in the process of resynchronisation and that could mean, that is gold does not head higher and close above 1260, it could break the 1240 and close below that, before long, after the resynchronisation is complete. 

The medium term trending indicators are cautiously just pulling a tad higher but have not started to climb aggressively. 

It is still mish-mashing itself, in a duel of wills until there is a clear lead, the path ahead lies in uncertainty. 

The long term directional indicators are getting comfortable in the middle of the channel and maybe some time before it decides to break out of it again with the quickest time frame, by next week’s closing, if it’s a slow moving market.  

The momentum/volatility indicators remain at humming levels and no incentive to be taking longer term positions, leaving only the range traders, to make some extra profit during this time. 

The positive bias are narrowing again today but not yet in danger of being negated so gold even if it does not run higher, might just prefer to stay slightly firmer. 

However, by the week’s closing and 1260 is not conquered, then, gold will likely start dripping back lower next week.

Interim supports are at 1248, 1239 & 1232.50 with minor supports at 1239.30, 1228 & 1219.40.

Interim resistances are at 1257, 1286 & 1289.50 with minor resistances   at 1268.30, 1277.30 & 1291.40.

The daily/weekly trend changer points are at 1258.35/1218.65.

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Gold Trends (27 June 2017) - Updates of Mib Agenti

In the daily charts, the short term direction indicators are speeding higher very nicely, without any hint of the $20 drop yesterday souring it up, all brushed away, forgotten and forgiven now. 

In fact, it is touching the 40% mark up but without the actual gold price following keenly, it will start looking heavy especially if the very recent high is not attempted soon.  

The medium term trending indicators have cut up but it is a fresh cutting and the indicators are crossing swords until there is a clear winner, which could be more pronounced in 2 days’ time. 

There is a slight slant that the market should be creeping back higher as the indicators are cutting back across from a low level with lots of room to maneuver higher, if it so desired. 

The long term directional indicators are almost negated and testing the top of the channel now and should be pushing back into the channel and set gold up in consolidation for at least a week.  

The momentum/volatility indicators eased back by 3 notches, sinking it to lower level and nothing short of a major event, will bring it out of its stupor. 

It is a little early but gold seems to be getting set in the summer doldrums while it is still spring. 

So hopefully gold will be awaken early, with nice big swings, thereby drawing back the investors into the market and it turns itself into a self-fulfilling prophecy. 

The earlier weak positive bias was eradicated in yesterday’s move and the negative bias started opening up again today but without sufficient strength, trading will likely remain whippy.

Interim supports are at 1249, 1239 & 1233 with minor supports at 1239.30, 1228 & 1219.40.

Interim resistances are at 1259, 1286 & 1289.50 with minor resistances at 1268.30, 1277.30 & 1291.40.

The daily/weekly trend changer points are at 1258.80/1218.65.

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

In the daily charts, the short term directional indicators have pushed back above the oversold region and should be making the shorters sit up right now and take notice, and maybe head for cover. 

If it plays out well and gold having a corresponding move, could see gold pushing back to at least 1285. 

However, it must move swiftly or else the move crumbles into itself and ebbs away. 

The medium term trending indicators have confirmed cutting up now and this makes for an interesting over the next 2 weeks. 

As it is freshly confirmed, could see gold remain on the firmer side till the indicators hit the parity line and might fumble at parity line and push right through when the opposition are eliminated. 

The long term directional indicators are almost colliding into the channel with the channel now bearing higher. 

Gold needs to close higher at least 1259 in order to have a decent chance of confirming a new trend emerging. 

The momentum/volatility indicators are doubling up from the previous session’s levels. 

However, it is still not yet at levels, where the market can get a sustained move and turbulence should be prudently expected, so buckle in for a bumpy ride.  

The bias has now shifted to the positive side and the gap is growing as it is moving deeper into the positive side. 

Maybe we have a chance to test at least till 1300 on this run up.

Interim supports are at 1250, 1237.50 & 1235 with minor supports at 1239.30, 1228 & 1219.40.

Interim resistances are at 1258, 1267 & 1289 with minor resistances at 1268.30, 1277.30 & 1291.40.

The daily/weekly trend changer points are at 1240.75/1217.05.

p.s. The daily trend changer point was triggered so underpins the market.

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Gold Trends (22 June 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators have confirmed turning up and trying to push back above the oversold region. 

If that’s achieved, we could look forward to gold trading back towards at least 1270’s by next week. 

If pushing back above the oversold region is unsuccessful, then it could become a ploy to shake out the weak shorts before resuming its downward spiral. 

The medium term trending indicators are at still trying to close the gap and cut across and gold must move to at least 1260 before there is chance of the confirmation coming. 

If the confirmation never comes, then, gold could retest recent lows first as it deliberates its next move. However, usually coming off such a steep gradient, it seldom succeeds cutting back higher on the first attempt. 

We might see 2 to 3 attempts before it is successful and that could mean gold suddenly losing ground one day but then recover back the next day but never overshooting the previous high and tries until it does. 

The long term directional indicators are still downward sloping but the channel is its second day of leveling off. 

Gold is restricted by the top of the channel which it was banging on, earlier in the session, but has now come off it and recovering before the next move. 

The momentum/volatility indicators are still in recovery mode but really too low and hard to ride on any move for any prolonged period of time. 

The negative bias was nullified but the day is not done yet, being knocked back to zero and so, it is waiting for gold’s next move, which will set the tone in the next session.

Interim supports are at 1249, 1237 & 1233 with minor supports at 1239.30, 1228 & 1219.40.

Interim resistances are at 1257, 1270 & 1288.50 with minor resistances at 1268.30, 1277.30 & 1291.40.

The daily/weekly trend changer points are at 1261.45/1217.05.

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Gold Trends (21 June 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are kissing now and trying to make a turning here as gold did not have a fresh low yesterday and also did not stay nearer to the lows which would have at least kept it looking weak. 

However, it has not yet cut back above so it is not a confirmed cutting back to the higher side just yet. 

Gold needs to close nearer the 1250 to trigger cutting back higher and likely trade with hints of trying to pare losses for the rest of the week. 

The medium term trending indicators retracted a little with a faint kink right at the tip so 1240’s is doing a good job trying to stem the flow of gold losing more ground. 

However, the steepness of the indicators makes it doubly difficult but if it somehow managed to do it, could mean that the lows are seen for now. So gold needs to close above the 1240 for the rest of the week and we might have a chance of this indicator being turned by next week and higher closing will help it a lot. 

The long term directional indicators are seeing a very slight levelling off at the bottom of the channel but overall, gold has only ridden 50% of this wave so far with the potential of this wave being completed getting dimmer each day no new lows are made. 

The momentum/volatility indicators improved by 2 notches from yesterday but the not yet reach levels where it will attract fresh players. 

The negative bias looks like it is stalling with only the slightest of gain from the previous day.

Interim supports are at 1237, 1232.50 & 1221 with minor supports at 1239.30, 1228 & 1219.40.

Interim resistances are at 1248, 1255 & 1273 with minor resistances at 1251.70, 1268.30 & 1277.30.

The daily/weekly trend changer points are at 1266.60/1217.05.

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Gold Trends (20 June 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are at really low levels, almost reached the bottom, but what’s missing is similar action happening in the gold price. 

If we do not managed to trade and close below the 1240’s by tomorrow, then the indicator could well be trying to turn back up and at least push back above the oversold region. 

The medium term trending indicators are having their day in the sun and not a blemish of any weakness seen since the run lower started. 

It should continue to pressure gold to continue to try lower and may permeate till at least the end of the month, so long as gold does not trade back above the 1260’s and close there as then, a turning would have taken place. 

The long term directional indicators are looking really powerful and masterful at the moment and looks set to add fuel to the fire. 

Gold could be thrust back lower nearer the 1210’s by the week’s end if this takes over as the leading indicator. 

Then next week, a play towards 1180 could be targeted so the closing of the week sets up the play for next week. 

The momentum/volatility indicators are at super low levels right now but by the same coin (on the reverse side), also make it easily maneuverable and build up new interest, if desired. 

The negative bias is freshly confirmed today but is still jello and needs a day or two more to set it in concrete. 

Once that’s done, it will not be surprising if the gap widens steadily and mood pervades for at least 2 to 3 weeks.

Interim supports are at 1237.50, 1232 & 1220.50 with minor supports at 1239.30, 1228 & 1219.40.

Interim resistances are at 1247, 1254.50 & 1259 with minor resistances at 1251.70, 1268.30 & 1277.30.

The daily/weekly trend changer points are at 1272.70/1217.05.

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Gold Trends (19 June 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are in the oversold region at the moment. 

However with gold refusing to close below the 1250’s at last week’s closing, has put on the brakes for the market running too far away today. 

Just as well, the indicators are at very low levels now and have almost scraped the bottom. 

If gold refuses to see fresh lows in the next 2 days, could see move into a mini-rebound, back to at least 1270’s. 

The medium term trending indicators are looking intact still and not looking fatigued yet and still bearing down for now. 

However, we are not seeing a similar move in the gold prices so gold price in relation to the indicator’s movement is retarded. 

So at best, gold possibly may only test to around 1215 on this run unless it starts picking up the pace of testing fresh lows and mimicking the indicator, only then, will we have a chance to test to 1200. 

The current bias is at a steep gradient and will likely, not be easily turned around, in the next 2 days and continue bearing lower. 

The long term directional indicators have freshly confirmed cutting downwards and look firmer then last week. 

This should put extra pressure on gold now that’s happened. 

At the moment, the psychological barrier at 1240 could deaden the blow in a slow moving market but hopefully, the market will just plough through it in order to refresh the ranges. 

The momentum/volatility indicators are dribbling lower today and since it’s at such a low level, hopefully it is easily excitable and interest catches back on when a bigger move comes. 

The positive bias gap have closed back to single digits and it would take much to tip it into the negative side, we just need gold to close nearer the low 1240’s and it’s a done deal.

Interim supports are at 1242, 1233 & 1221.50 with minor supports at 1239.30, 1228 & 1219.40.

Interim resistances are at 1260, 1264.50 & 1287 with minor resistances at 1251.70, 1268.30 & 1277.30.

The daily/weekly trend changer points are at 1277.85/1217.05.

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

In the daily charts the short term directional indicators are pulling deeper into the oversold region. 

However, there is a leg still hanging above the zone and refusing to be cowed into the zone just yet. 

Overall, the indicators are around the 18% mark now and if gold need to inflict bigger losses, now is the time as, if there were any cooling off period seen, it could easily change its mind and go the other way and develop into a full recovery. 

The medium term trending indicators are now below the parity line and having just succeeded thus without any deliberation, suggest that perhaps we could continue to find fresh lows for at least another 3 days and 1210 might be a ideal target. 

The long term directional indicators are looking severely pressured and it has now confirmed cutting lower but needs a day or two in order to solidify the direction and some benefit gotten out of that. 

The momentum/volatility indicators are not looking healthy at the moment and could limit moves within its comfort zone without a daring to venture out of it. 

To negate this, requires gold to be closing nearer the 1270 before it has a chance to be successful. 

The positive bias gaps are closing again today but at least a day away from cutting across and turning negative.

Interim supports are at 1249.50, 1243.50 & 1235 with minor supports at 1239.30, 1228 & 1219.40.

Interim resistances are at 1259, 1263 & 1269.50 with minor resistances at 1268.30, 1277.30 & 1291.40.

The daily/weekly trend changer points are at 1282.20/1215.45

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Gold Trends (15 June 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators have slid further today with one appendage already beneath the oversold zone and overall, around the 22% level now. 

So far, the push lower has been fast and furious and whether or not it manages to break into the oversold zone and thereby ignite into a frenzy of fresh selling, we have to wait and see. 

The medium term trending indicators are sitting on the parity line now with some chance we might see some headway made below this line. 

Some foreplay could be anticipated before the thick of the action happens so the nervous shorts could be feinted out even before the main action happens. 

The long term directional indicators are almost on the verge of eking out a new direction with the line so near to the channel and good chance of cutting over  and confirming it. 

However, almost cutting over and confirmed cutting over are 2 different things and late shorters have to be mentally prepared in case they get whipped around or when it stays unconfirmed for too long, then it might not happen after all and the opposite might happen. 

The momentum/volatility indicators are picking up higher nicely, by around 4 notches but a major move will be difficult to engineer unless along with it comes some kind of tension or earth shaking news. 

The positive bias pulled back slightly deeper in the previous session just as gold is still trying to find its equilibrium. 

However, it is not so difficult force it turning negative, just a closing below 1250 should do the trick.

Interim supports are at 1250, 1235.50 & 1233.50 with minor supports at 1254.80, 1239.30 & 1228.

Interim resistances are at 1259, 1266.50 & 1272.50 with minor resistances at 1268.30, 1272.70 & 1278.30.

The daily/weekly trend changer points are at 1286.40/1215.45.

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Gold Trends (14 June 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators have softened to the 35% level now and not far off from the oversold region. 

However, gold did not manage to have a break through at the 1260’s and close below that. 

So gold is in a recovery mode since the opening bell till now and even climbed back up, above the 1270’s. 

If gold manages to close above the 1275’s, it has a good chance to effect a cutting and crossing over and give rise to a stronger retracement after that. 

The medium term trending indicators are just a day away from challenging the parity line and some leveling off is getting noticeable but not in danger of cutting across and back higher this 2 days. 

The long term directional indicators are smack right in the middle of the channel and creeping just a little nearer to the top of the channel but still not near enough to pose a threat of cutting above it right now. 

Gold became tired pushing at the lower boundary as it was only pushing on the lower channel line and unable to overshoot it, and have now bounced up for taking a breather, after unsuccessfully attempting the lower channel.  

How it plays out from here is anybody’s guess but if it resumes seeking lower lows, then that will tip gold over and could see gold continue to be on the softer side for at least 2 weeks. 

It could also continue be caught in a range till some geopolitical news start coming out and thereby, aid it to break the status quo. 

The momentum/volatility indicators are just maintaining their levels in complacency and the positive bias have remained constant. 

It leveled off and refuses to cross over despite the gap being at its tiniest gap seen in the past month.

Interim supports are at 1270, 1261.50 & 1256 with minor supports at 1270.60, 1265 & 1260.60.

Interim resistances are at 1291.50, 1295 & 1298 with minor resistances at 1278.30, 1280.40 & 1291.40.

The daily/weekly trend changer points are at 1289.70/1215.45.

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Gold Trends (13 June 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators have been driven lower to around the 45% mark now with still left over inertia to push it nearer to the oversold region which will happen probably at the earliest, in 2 days’ time. 

However, gold prices seem unaffected by the action in these indicators and still haven’t managed to push and close below the 1260’s. 

If gold managed to stave off the pull of this indicator to the lower side for another 2 days, could set gold up for a mini recovery.  

The medium term trending indicators at the earliest, a day away from attempting the parity line and the steepness of the drop is not waning yet. 

There is some hope that gold might eventually try lower but not before tangling with the parity line and probably face some friction as that is tested to see if it can be broken. 

The long term directional indicators are now just in the middle of the channel where it must languish for some time before the next direction emerges. 

If market continues as it is, then, we might see the next direction emerging as early as the beginning of next week. 

The momentum/volatility indicators are none too healthy at the moment to the point that its distressed. 

However, in its own way, this is a good thing in that, it is easy to ramp up should the need arises. 

The positive bias gap has closed up further today and looks just like pursed lips ready for kissing. 

All it needs is for gold to close below 1253 today and its’ a done deal.

Interim supports are at 1259.50, 1254 & 1251 with minor supports at 1256.50, 1239.30 & 1228.

Interim resistances are at 1270.50, 1275 & 12901.50 with minor resistances at 1268.30, 1272.70 & 1280.40.

The daily/weekly trend changer points are at 1292.35/1215.45.

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Gold Trends (12 June 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators have been driven back lower to the 63% level. 

The indicators have fallen steeply and may have difficult to stop the flow so we may yet see fresh lows in the indicator. 

However a corresponding move in the gold price may not happen as it could just be in a process of resynchronization between the indicator and the underlying. 

The medium term trending indicators have corrected almost 50% to the parity line now, and if gold continues southwards, could see a challenge of the parity line by late week. 

The long term directional indicators have cut across and back into the channel now. 

Usually, it takes at least 2 weeks before the directional is determined but during which, the market could be painfully slow, caught in range bound trading but to the delight of range traders.  

The momentum/volatility indicators are driven to ultralow levels with the barest minimum palpable volumes. 

It will take some major news or fall out to shake up the market again. 

However if the market is able to hold the lows for at least 3 days, then there is a slight chance the market might succeed in pulling back and turn it around. 

The positive bias lost heavily and narrowed tremendously with the gap now, susceptible of being closed, the bias negated and turned, negative. 

However this still requires a very strong hand for at least another 2 days and gold to be around 1240’s.

Interim supports are at 1265, 1260.60 & 1256.50 with minor supports at 1260.50, 1252.50 & 1238.

Interim resistances are at 1273.50, 1276.50 & 1291.50 with minor resistances at 1272.70, 1278.30 & 1291.40.

The daily/weekly trend changer points are at 1294.25/1215.45.

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

In the daily charts, the short term directional indicators have finally succumbed to the swan song of the declining gold prices and have now crossed over, cutting back lower and just below the overbought region. 

As it is very near to the overbought region, means it can go for a long way down if it suited but whether or not gold prices followed suit, is relative and it may not mirror the indicators exactly. 

However, if it mirrored perfectly, then gold could be trying the 1240’s just when the indicators start hitting the oversold region. 

The medium term trending indicators cutting lower have solidified in yesterday’s closing and pointing very sharply lower. 

This could provide the necessary fuel to give it a good shove lower and speedily too. 

The indicators are at a very good height to the parity line and it could lose the gains of the recent rally and 1213 could be targeted.  

The long term directional indicators are now levelling off with a slight dripping lower just the gap is narrowing with some chance of it being closed in another 3 days’ time. 

If that happened, could set gold to trade the range for a week before a new direction is forged. 

The momentum/volatility indicators are driven south with a strong hand as it lost at least 5 notches in the recent fallout. 

The positive bias is swinging more heavily towards the negative side as the gap has narrowed greatly. 

However, it needs a sustained move lower for another 2 days in order to tip it into the negative side. 

The minute it stops testing new lows, the positive bias will start opening up again.

Interim supports are at 1263, 1257 & 1253.50 with minor supports at 1260.60, 1254.80 & 1239.30.

Interim resistances are at 1276, 1292 & 1295.50 with minor resistances at 1272.70, 1278.30 & 1291.40.

The daily/weekly trend changer points are at 1295.50/1213.80.

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Gold Trends (08 June 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators have somehow defying the weak closing from the previous session by remaining pointing upwards and still in the overbought zone. 

However, it could be easily swayed if today’s closing is below 1278 and then it will look threateningly heavy. 

The medium term trending indicators are attempting at cutting across and back lower, if it is successful could see gold retrace back to at least 1250’s in the near term. 

Spanning a longer period, it could pull back as low as 1215. 

The long term directional indicators are still solidly poised upwards but the channel has narrowed a fair bit. 

If gold starts losing ground, free falling is a little difficult and it will be pushing at the lower band with slow headway made in normal market conditions. 

However, if the market was frustrated at the crucial 1300, stop selling and long liquidation plus fresh speculative shorts could send it on a speedy path lower. 

The momentum/volatility indicators are pulling back by 3 notches today with a narrowing positive bias but nowhere near flipping to the other side yet.

Interim supports are at 1264, 1256 & 1241.50 with minor supports at 1270.60, 1260.60 & 1239.30.

Interim resistances are at 1293, 1297 & 1307.50 with minor resistances at 1280.40, 1291.40 & 1305.90.

The daily/weekly trend changer points are at 1272.05/1213.80.

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Gold Trends (07 June 2017) - Updates of Mib Agenti

At the last minute, I was tasked to attend a seminar but that’s over now so back to the grind. 

In the daily charts, the short term directional indicators needed a massive move before it could pierce through the overbought region but it is too near the top. 

Having pushed through, it must be like the dam walls breaking and have a big initial rush of water flowing outwards, but we are not seeing that here. 

So it is a little worrying that if it didn’t run then it could easily snap back just as quickly. 

The medium term trending indicators have almost equalized the earlier peak now with just about, another 1 to 2 days’ run before the matches that. 

However, there is nothing to suggest any weakness just yet so gold could push to at least 1310 if all goes smoothly. 

The long term directional indicators are looking scarily solid and trying break out above the channel, which is what is keeping gold in check right now. 

The top now is at 1296 and a closing above this is required to confirm the break out but the running away must also happen or else it will be swallowed back into the channel. 

The momentum/volatility indicators are finally at decent levels, at least one of them and if the other two quickly follow the former, then gold will be excited enough to see a nice big push upwards. 

The positive bias had a small contraction overnight but is not in danger of being overrun this week as it has by now, opened up a big lead.

Interim supports are at 1287, 1278 & 1265 with minor supports at 1282.50, 1270.60 & 1260.60.

Interim resistances are at 1294, 1297.50 & 1310.50 with minor resistances at 1305.90, 1309.90 & 1316.

The daily/weekly trend changer points are at 1266.05/1213.80.

Note: The weekly point was triggered earlier in the week and could set gold up to remain firmer in the longer term.

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Gold Trends (02 June 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators earlier had already started drooping lower but with the sudden surge of the gold price, it righted itself and just slightly off the overbought zone. 

So the closing play is important for setting the early tone for next week. 

However, it must really run higher because if the peak does not surpass the recent one, then a divergence will be formed and will be doubly harsh if it failed to secure the higher end of the ranges. 

The medium term directional indicators have confirmed cutting across and lower with yesterday’s closing but it is in the middle of attempting a hat trick. 

If it is successful, then it saved itself in the nick of time and should really propel it towards 1300 next week. 

If the closing is not a good one, that is, lower than 1275, then what we are seeing could well be the dying throes, a last ditch effort to pull higher. 

The long term directional indicators started leveling and with a slight wilting seen with the gap between the channel and the indicator narrower somewhat. 

The topside of the channel around 1278-1279 will be a tough region to bash through, but once it does, could see gold closing nearer the 1290’s. 

The momentum/volatility indicators were down 3 notches earlier but have gone back 5 notches higher, but are far away from giving gold a fantastic run. 

The positive bias whittled down at yesterday’s closing but have now started widening again.

Interim supports are at 1273, 1261.50 & 1254 with minor supports at 1270.60, 1260.60 & 1354.80.

Interim resistances are at 1290.50, 1298 & 1319 with minor resistances at 1278.30, 1291.40 & 1305.90.

The daily/weekly trend changer points are at 1253.30/1284.75.

Get Gold Trading Chat (Android), excerpts from there

Gold Trends (01 June 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are still managing to keep it from cutting down despite being also unable to press it higher into the overbought zone. 

It is like holding up a torch with one’s hand fully stretched out, surely it will get tired and once it’s completely drained, it could drop like a rock. 

Maybe something is brewing beneath the surface and just waiting for the correct moment to spring into action, much like a predator waiting for its prey so that escape cannot happen. 

The medium term trending indicators have almost touched each other and if gold closes 1255 level today, possible the cutting down for the lower will be confirmed by that.

So we are almost at the point where a new trend will be breaking out, or not? 

It could also just be the market resynchronizing before pushing higher. 

The long term directional indicators are still channeling upwards and both ends of the channel are well played. 

Right at the top, the leveling off is slightly more prominent but gap at the bottom has resumed widening up a little. 

The momentum/volatility indicators just holding on to recent gains but not increasing in the least. 

The positive bias had a slight narrowing from the previous day but the gap is too wide to be force closed it this week.

Interim supports are at 1261.50, 1252 & 1234 with minor supports at 1260.60, 1254.80 & 1239.30.

Interim resistances are at 1272.50, 1291 & 1298.50 with minor resistances at 1268.30, 1277.30 & 1291.40.

The daily/weekly trend changer points are at 1249.95/1284.75.

Get Gold Trading Chat (Android), excerpts from there