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

In the daily charts, the short term directional indicators have descended to around the 40% mark now but gold didn’t move in a similar fashion.  

So it would seem that the 1320 is holding the market well and helping to stabilize it here. 

It will be good if the market is able to maintain below the 1330 but above the 1320, then in all likelihood, the indicators will creep nearer to the oversold region and from there managed to do a turn around, then the market stands a good chance to push back nearer the recent highs. 

The medium term trending indicators are erasing gains swiftly and corrected by almost two thirds and with a slightly higher chance that the indicators will try to push lower from here, targeting the parity line and if all goes accordingly, then the earliest the parity line will be challenged will be next mid-week. 

The long term directional indicators are in the channel now and it will take at least a week before the new direction emerges. 

The channel is now sloping down sharply but luckily the bottom band is helping to hold gold here as that acts as a psychological barrier and in order to break through requires a forceful action, usually on the back of some major news. 

So gold will likely consolidate temporarily and the next gust will determine which direction it will be blown. 

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The momentum/volatility indicators are sputtering at the moment as the descent seem to have grown some brakes, lower by only a notch from the previous day. 

The positive bias gave up some ground slightly quicker than expected, but likely not in danger of being negated this week as the gap is still wide enough to withstand some selling, but if gold closes below 1300 for the week, then the bias will be negated and turn negative.

Interim supports are at 1317, 1303 & 1297.60 with minor supports at 1315.50, 1303.60 & 1298.30.

Interim resistances are at 1328.50, 1334.50 & 1351.50 with minor resistances at 1335.50, 1338 & 1352.

The daily/weekly trend changer points are at 1354/1231.50.

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

In the daily charts, the short term directional indicators have continue sliding lower and around the 58% level now, losing over 25% as the lows of around 1323 were tested yesterday. 

These indicators will likely continue pressuring the complex lower as it still have some length beneath that could be taken advantage of.  

As the earlier run lower was swift and forceful, that is, a low of 1323 was achieved, looking at the height of the indicators now, could mean that 1320 might not be able to hold back the march lower unless some fresh rumblings come into play. 

The medium term trending indicators continue to point lower, and have lost about 50% of its earlier gains. 

However it is still days away from reaching the parity line and without any new disturbances, the parity line could be challenged at the earliest, by next Wednesday. 

The long term directional indicators are breaching the channel and piercing right into it, with the channel sloping downwards quite steeply. 

However, it is only conclusive if at the closing, it remains thus, unless gold closed back above the 1330’s and it then becomes a near miss again. 

So a closing below 1320 will confirm that the direction is negated and some consolidation is required before the fresh direction becomes apparent. 

The momentum/volatility indicators are being slam dunked and lost many notches making for difficulty to hold the attention in any particular direction for too long. 

The positive bias strangely managed to stem the losses and trying to ward off the crashing through of the 1320 level as the gap somehow started stabilizing and holding it steady.

Interim supports are at 1320, 1313.50 & 1305 with minor supports at 1315.50, 1303.60 & 1301.

Interim resistances are at 1331.50, 1335.50, & 1350.50 with minor resistances at 1335.50, 1352 & 1380.80.

The daily/weekly trend changer points are at 1356.15/1231.50.

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

In the daily charts, the short term directional indicators are sliding down furiously due to there being little rumblings recently and around the 73% level now. 

As it is coming off steeply, gold may have difficulty staving off further loses as it tries to find some support along the way down, hoping to hold it steady and try to turn it back to the higher side thereafter. 

The medium term trending indicators are looking even more set to ensure that it does go lower and some chance we could test the parity line by the week’s end, translating to the 1300’s being tested. 

That is, if the market is run on just one indicator but that is not the case so all other indicators must also be taken into considerations. 

The long term directional indicators are a lot nearer to the bottom rung of the channel as the gap has narrowed a lot in yesterday’s session and needs gold to close below 1220 in order to negate the current direction. 

However, this is especially a tough job to end it, this past month a half as it managed to touch and not confirm and instead started widening up again the next day. 

This time round is no exception and the indicator might come so close and even to the point of touching the bottom of channel from below, but then start gapping away from the channel the next day, especially if it didn’t manage to breach and close with the direction negated. 

So a lot of watching and seeing plus patience is required in order to plan the next move. 

The momentum/volatility indicators are losing ground very rapidly and now back into the warm zone but luckily not too far in yet and a revival from here is a lot easier than if it had gone to lukewarm zone. 

The positive bias is still too wide and likely not be contraed these couple of days a lot it has continued narrowing, but gradually.

Interim supports are at 1315, 1311 & 1303 with minor supports at 1315.50, 1303.60 & 1301.

Interim resistances are at 1333, 1338.50, & 1352 with minor resistances at 1338, 1352 & 1380.80.

The daily/weekly trend changer points are at 1357.55/1231.50.

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Gold Trends (11 September 2017) - Updates of Mib Agenti

Having been called away the past 2 weeks at the last minute, I was not able to pre-warn of my absence.  

Thanks to the many global rumblings egged gold higher and higher, culminating with a high of almost 1360, not a bad effort at all. 

As the market rose steadily on the rumblings, the “legs” could easily go limp quickly once the rumblings stop or if the perceived danger is deemed to have cooled off and for now, and the only way for gold to prick the year’s high is for new rumblings to emerge. 

In the daily charts, the short term directional indicators have performed below par even as gold tested so much higher, it did not manage to surge past the previous peak and have now, turned back lower and bearing down just below the overbought region and is long overdue for some correction to take place. 

The medium term trending indicators did shoot past the earlier peaks comfortably by at least 50% but have now cut and turned down. Due to the acute gradient, if no new catalysts come into play over the next 2 days, gold could be thrashed heavily and 1320 could be impacted. 

The long term directional indicators are maintaining a huge gap to the bottom of the channel and gold needs to trade till 1310 and close below that in order to negate the direction. 

Seen currently, could be an early indication that the channel is trying to level off but gold could likely try to hold the mid-range levels as long as it possibly can in order for all the other indicators to re-synchronise itself before deciding on its next move. 

The momentum/volatility indicators are sharply declining as it heads back lower but it is still in the hot zone so given the correct incentive, it could easily reverse and another major move in the offing. 

The positive bias gap was narrowing the past 2 days but only marginally.

Interim supports are at 1332.50, 1328.50 & 1308.50 with minor supports at 1327.80, 1315.50 & 1303.60.

Interim resistances are at 1343, 1356.50 & 1359 with minor resistances at 1338, 1352 & 1380.80.

The daily/weekly trend changer points are at 1330.95/1231.50.

Get Gold Trading Chat (Android), excerpts from there