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

It is good to see gold clinging on to above 1220's and will be doubly good if it also manages to close above.

If it does, especially the 1225, then it will start off on a positive footing for next week's session.

The dailies continue to look good and most of the indicators still have some room to go before it goes into overdone mode.

In fact a major trending indicator has almost confirmed but depends on the closing and that would mean gold will likely stay firm for a couple of weeks more.

The only thing holding it back is the momentum/volatility which is lacking and may need another 3 sessions to build up, that is, if it does.

Interim supports are at 1213.40, 1204.70 & 1198.60 with minor supports at 1212.60, 1208.80 & 1240.

Interim resistances are at 1227.50, 1230.20 & 1241. The daily/weekly trend changer points are at 1173.40/1142.90.

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Gold Trends (14 May 2015) - Updates of Mib Agenti

Gold has managed to hold on to the recent gains and with good reason.

It has quite a few of the indicators in both the dailies and weeklies, in its favour.

Usually this is a potent mix but with both of them having low momentum at the moment, this rally could be short-lived and a real struggle.

Unless it somehow manages to find renewed interest and the boosters are fired up, and then we finally have a decent chance to have a good poke higher, maybe to 1280.

Always be alert and watch the charts for signs of the trend decaying to get out quickly and maybe even preempt by selling some ahead and only average it when the downtrend is confirmed.

Interim supports are at 1216.70, 1212.20 & 1199 with minor supports at 1212.60, 1208.80 & 1204.70.

Interim resistances are at 1229.70, 1240.50 & 1260.60 with minor resistances at 1238, 1240.70 & 1251.70.

The daily/weekly trend changer points are at 1171.20/1142.90.

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Gold Trends (13 May 2015) - Updates of Mib Agenti

What a nice performance we have seen in gold today on the back of the unemployment data which remains relatively unchanged from the previous week which caused USD to ease and the ripple effect of gold being bought up as a hedge.

In the Asian hours, I took a reading of the charts showing that a play on the higher side could have been a possibility, has now come true.

Looking more keenly now, the momentum indicators in the dailies have not built up to urgent levels yet.

If they remained at the current levels then maybe 1220-25 might present some barrier at the moment.

A date to watch out for will be where gold will be by 27 May, to be above 1220. Then, that will translate into gold tending higher, possibly 1280 could be tested in the next month or so.

In the event the momentum does not build up, then we should start for lower soon, maybe back to 1190.

Interim supports are at 1208, 1202.80 & 1198 with minor supports at 1208.80, 1204.70 & 1200

Interim resistance at 1219.70, 1227.50 & 1238 with minors at 1218.50, 1221.70 & 1241.

The daily/weekly trend changer points are at 1167/1140 (estimated - both were triggered in this session) Since it's triggered, what more, both the weekly/daily, we might see higher for at least 1 month.

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Gold Trends (12 May 2015) - Updates of Mib Agenti

In times like this, when market is so range bound, it is good to remember Kauffman.

Trade a lot when the market is noisy and trade less when the market is quiet.

If you don't do that, it is hard to clock in the P/L.

However, always keep your eyes opened and take your cue from the entry/exit signals and one cannot be too obstinate or deep pockets are required.

Just as well, without true direction, market is easily spooked, eg., bond returns were the reason for today's spike higher.

The momentum indicators are still having no signs of life and any sudden movement either direction will likely not have too much follow through.

Interim supports are at 1187, 1180.70 & 1177.40 with minor supports at 1178.60, 1168.70 & 1161.50.

Interim resistances are at 1197.70, 1205.80 & 1216.50 with minors at 1196.70, 1208.50 & 1218.50.

The daily/weekly trend changer points are at 1209.10/1215.

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Gold Trends (11 May 2015) - Updates of Mib Agenti

Having been away for the past 2 days, I felt something amiss and so I studied the charts again with a "refreshed" view and recent price movement is beginning to show more and more of what I suspected to be building up, but I really hope that I am wrong. 

In the making, possibly is a horizontal price channel (scary), but seen both in the dailies and weeklies - even scarier.

If it's true, then we are doomed to enter into a trading purgatory for the foreseeable future until someone commandeers the market, higher, or lower it doesn't really matter, just get out of loop and head somewhere new.

Interim supports are at 1181, 1174.40 & 1168.60 with minor supports at 1178.80, 1168.70 & 1161.50.

Interim resistances are at 1192.60, 1198 & 1202.30 with minors at 1196.70, 1207.50 & 1211.40.

The daily/weekly trend changer points are at 1209.90/1215.

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Gold Trends (6 May 2015) - Updates of Mib Agenti

Gold continues to be in Cloud 9 for some more time.

The indicators have gone into a kissing zone rather than a killing zone, crisscrossing each other at every turn and well meshed together unable to break the status quo.

The missing ingredient in recent sessions were, sufficient and slightly more sustained momentum/volatility which could tip the ranges to be wider with more height or depth.

The danger of current conditions is, one gets lulled into false comfort and that's when it goes into a killing zone

Gold needs just to pull and close above 1200 in order to see some challenges of upper boundaries around 1210 but if it stays below it by end of the week, will set a softer tone for beginning of the week.

Interim supports are at 1190, 1182.40 & 1170 with the minors at 1178.60, 1168.70 & 1161.50.

Interim resistances are at 1198.60, 1207.50 & 1214 with the minors at 1196.70, 1208 & 1218.50.

The daily/weekly trend changer points are at 1212.40/1215.

Mib will be away the next 2 days so likely there will not be any updates.

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Gold Trends (5 May 2015) - Updates of Mib Agenti

It is fun to be trading gold right now if you are getting it right.

Especially when it is range bound with $30 to $40 ranges to be had.

A nice move up from overnight markets as participants are betting on the slew of economic data out during the course of the week, especially the unemployment figures, that it will not be good and the interest hikes could be delayed till at least September.

The way it has played out previously, market reacted by pushing higher first and quickly running out of steam before plummeting back whence it had come up from.

It was really fun.

Gold needs to crack and close above 1200 in order for the dailies to start looking better. Below 1200, it continues to look soft.

We just have to be careful not to be too complacent and diligently watch the charts for any hidden developments that might come up.

Interim supports at 1190.40 & 1170 with minor supports at 1178.60 & 1168.70.

Interim resistances at 1198, 1206.50 & 1214 with minors at 1207.50 & 1221.70.

The daily/weekly trend changer points are at 1213.30/1215.

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