Gold Trends (23 Apr 2015) - Updates of Mib Agenti

Finally, we have a slightly extended range on the lower end.

However, are we going anywhere with it?

That, I am not too sure at all but I remain hopeful - at least the technicals are veering lower so higher probability for that happening.

However, the Momentum/Volatility indicators in both the daily and weekly are but a faint bleep. If it was any quieter, it would have probably flat lined.

So maybe what is missing, is a dash of some good news.

Interim supports are at 1184.50, 1181 & 1155 with minor supports at 1178.60, 1168.70 & 1161.50.

Interim resistances at 1195, 1199 & 1210 with minors at 1207.50, 1218.50 & 1221.70.

The daily/weekly trend changer points are at 1218.80/1224.10.

https://play.google.com/store/apps/details?id=com.gold.trading.chat

Gold Trends (22 Apr 2015) - Updates of Mib Agenti

Gold is stubbornly clinging on, as near to 1205 as possible. Probably in an effort to make the charts look "positive" without costing to much to do so.

If kept here sufficiently long enough, say another week or so, then, in all likelihood, the charts would have started looking "positive".

Kudos to the excellent and cheap plan. The only issue is, nobody should have a trigger finger and work the market up into a selling frenzy by pushing it to test and break crucial levels.

Otherwise the low volatility and momentum seen this past 2 weeks is keeping the market capped at both ends.

Interim supports are at 1191.70, 1184.50 & 1156.50 with minor supports at 1178.60, 1168.70 & 1161.50.

Interim resistances at 1202.50, 1211 & 1216 with minors at 1207.50, 1218.50 & 1221.70.

The daily/weekly trend changer points are at 1219.50/1224.10.

https://play.google.com/store/apps/details?id=com.gold.trading.chat

Gold Trends (21 Apr 2015) - Updates of Mib Agenti

I have been looking at the charts and very likely tonight can be a decider and all hinges on where gold closes later.

Though it appears resilient, that is, it still trying to keep it looking not too negative by not drifting too far from 1205, but if it closes 1190 or lower, then, it will start appearing soft in the weeklies as well.

Against 2 time scales and if it looks soft, the compounded effect will likely not be ignored further.

However, the lack of momentum and volatility rears its ugly head and soften the blow.

Interim supports are at 1193, 1190 & 1183.70 with minor supports at 1178.60, 1168.70 & 1161.50.

Interim resistances at 1202, 1207.80 & 1211 with minors at 1207.50, 1218 & 1221.70.

The daily/weekly trend changer points at 1220.30/1224.10.

https://play.google.com/store/apps/details?id=com.gold.trading.chat

Gold Trends (20 Apr 2015) - Updates of Mib Agenti

It is saddening (maybe maddening as well) to see gold expend so much effort to try to hold it steady above the 1200 so that the dailies and weeklies both will start looking positive but it would have taken enormous effort to have brought it above 1210.

So in a sense, someone was looking for a cheap alternative to make the market start looking positive.

Woe is to the bulls as gold has now poked below 1200's but that could be a ploy to weed out the weak longs.

Having said that, all is not lost as we only need at closing above 1205 and the "damage" done by the foray lower would have been erased.

Interim supports are at 1194, 1190.70 & 1185.70 with minor supports at 1178.60, 1168.70 & 1161.50.

Interim resistances at 1201.80, 1210.40 & 1217 with minors at 1207.50, 1218.50 & 1221.70.
The daily/weekly trend changer points are at 1221/1224.10.

https://play.google.com/store/apps/details?id=com.gold.trading.chat

Gold Trends (17 Apr 2015) - Updates of Mib Agenti

With gold holding steady here above 1205, in the weeklies, the earlier softness seems to have evaporated but being the weekly, it is simply a bigger creature with more girth so will be prone to be slower in reacting.

Just as well, the dailies look like it's trying so very hard to change track. However, the key is, it must at least cross 1215 and close above there in order to be relevant, a Herculean effort in itself, if there is no stimulus, aka, news, economic data, etc.

The momentum indicators are not fired up at the moment so the attempt could fall flat on itself.

Interim supports are at 1201, 1193.70 & 1185.50 with minor supports at 1200.10, 1178.60 & 1168.70.

Interim resistances  at 1211.30, 1216.70 & 1228.70 with minors at 1218.50, 1221.70 & 1238.

The daily/weekly trend changer points at 1221.70/1232.70.

Keep your eyes wide open before trading.


https://play.google.com/store/apps/details?id=com.gold.trading.chat

Gold Trends (16 Apr 2015) - Updates of Mib Agenti

It is classic how the London and New York traders do not take to each other very well and usually trading in opposition of each other. They are playing a typical cat and mouse game all the time. 

Yesterday, NY made a move higher on the back of the weaker USD only after London had finished for the day. 

Just as well, nothing significant on the upside were breached. On a more serious note, it could be the market's way of culling the weak shorts before true intent is shown. Just like a poker face before revealing a hand of royal flush. 

The dailies remain poised for lower but the question is only how deep will it run barring any cataclysmic news but a lack of momentum and volatility is hindering forays below.

Interim supports are at 1193.60, 1190 & 1185.40 with minor supports at 1178.60, 1168.70 & 1161.50.

Interim resistance at 1202.80, 1211.60 & 1216.80 with minors at 1207.50, 1218.50 & 1221.70.

https://play.google.com/store/apps/details?id=com.gold.trading.chat

Gold Trends (15 Apr 2015) - Updates of Mib Agenti

In the dailies, the bulk of the technicals are showing that softness should continue to rule for some more time. Due to the slowness of it moving lower, it is more apt to call it drifting, carried by a gentle wave. The momentum and trending indicators are at very low levels. So unless the volume is pumped up, we might not get too much length on this run (maximum around 1160's) before it turns back northwards. However if those are pumped up significantly, adding to weeklies which are starting to show the same way, we might get to flood levels and finally have a good run lower (1120's).
Interim supports are at 1192, 1185.50 & 1182 with minor supports at 1178.60, 1168.70 & 1161.50.
Interim resistances at 1197.50, 1202 & 1210 with minors at 1207.50, 1218.50 & 1221.70.
The daily/weekly trend changer points are at 1223.30/1232.70.