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

It was a good thing that gold managed to close above the 1180's.

With that, it had averted having the technicals in the dailies, to begin looking pressured.

With the divergence still in play and not too far in the background, could give gold its legs required to spring it higher.

Also the medium/longer term indicator that threatened lower, has been compromised for now and will only be back in contention if gold is 1175 or lower.

However, it has lost it's first mover advantage when it first confirmed compared to the second time it crosses back over.

Interim supports are at 1177.50, 1167 & 1159 with minor supports at 1178.80, 1168.70 & 1161.50.

Interim resistances are at 1189.20, 1193.40 & 1200.80 with minor resistances at 1184.50, 1191 & 1196.70.

The daily/weekly trend changer points are at 1192.10/1154.60.

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

A pity gold missed closing above 1190 or else we might have pushed above 1200 by now.

The US jobless claims data was almost unchanged from the previous week and a cause for the celebratory mood as funds jump back to piling in the US dollar and equities as well.

In the dailies, the technicals are still at the lower end and has room to run higher if it decided to do that.

It has also not played out the divergence to it's full effect either.

The medium/longer term indicator pointing lower was not negated and come back into play but a lack of momentum/volatility might cause it to end abruptly.

Interim supports are at 1176.60, 1167.20 & 1160 with minor supports at 1178.60, 1268.50 & 1161.50.

Interim resistances are at 1182.20, 1190.20 & 1195.50 with minor resistances at 1184.50, 1196.70 & 1207.50.

The daily/weekly trend change point is at 1192.10/1154.60.

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Gold Trends (10 June 2015) - Updates of Mib Agenti

Gold is trending a little today, hit bottom and bounced off the lows like a ping pong on the floor.

It has only been on a one way track upwards since.

There were suggestions that gold has been rising due to Greece's likely default (old news).

However, I would like to think it's more the banking news that's causing some shaking.

HSBC job cuts, quite a few downgrades happening, maybe that is a prelude to another crunch looming?

I leave the story-tellers to make up the fundamentals.

For now, the dailies look a whole lot better than it did when gold was treading 1170's and the medium/long term indicator that threatened, has been temporarily neutralised, depends if it closes above 1190 means 1200 and slightly above thereafter.

Interim supports are at 1182, 1167 & 1160 with minor supports at 1178.60, 1168.70 & 1161.50.

Interim resistances are at 1195, 1197, & 1201.70 with minor resistances at 1196.70, 1207.50 & 1210.20.

The daily/weekly trend changer points are at 1195.70/1154.60.

p.s. my friend flashed me the silver ETF charts earlier, I can only say, OMG, it has been quietly been increasing at almost a 45 degree angle for the past week - nice. Hope it goes for a good run up.

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Gold Trends (09 June 2015) - Updates of Mib Agenti

Gold has picked itself up nicely off the lows to trade nearer the 1180's.

So depending where it closes tonight would give a bearing on the direction on the morrow.

It will at least be poised to try higher, that is, fulfilling the divergence play and maybe we creep back to 1200's.

There are some indicators on the mend as well and nicely so, but a medium/longer term indicator has just confirmed signal for lower and if it has its day, would mean gold would be in for more selling later on, probably extend another 2 weeks.

To cancel it, gold needs to get back to 1190.

Interim supports are at 1171.40, 1168.10 & 1163.70 with minor supports at 1168.70, 1161.50 & 1144.60.

Interim resistances are at 1182.90, 1189.70, 1197.70 with minor resistances at 1184.50, 1191 & 1196.70.

The daily/weekly trend changer points are at 1200.20/1154.60.

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Gold Trends (08 June 2015) - Updates of Mib Agenti

If anybody missed me, I was away for some urgent meetings the past few days.

Anyway, gold has moved nicely lower pressured by the improving job figures which triggered dollar strengthening and gold's weakness.

Most of the analysts are focusing on these week's job figures and most are guessing they will be better than last week's numbers which means they are favouring a further slide in gold prices.

On the technical side in the dailies, the only issue with the fundamental view is, the momentum/volatility is not yet in the "urgent" mode and a struggle to head lower with some of the medium term indicators on the verge of being confirmed, or will it confirm and not turn out to be a dud?

Due to the slow movement, a divergence is taking shape and if it manages to trade back above 1180 and close above, then it might just snap back to 1200's.

Interim supports are at 1169.30, 1165.50 & 1157.70 with minor supports at 1168.70, 1161.50 & 1144.60.

Interim resistances are at 1178.60, 1182.40 & 1188.20 with minor resistances at 1177.15, 1180.70 & 1183.50.

The daily/weekly trend changer points are at 1205.40/1154.60.

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Gold Trends (02 June 2015) - Updates of Mib Agenti

Gold continues to be stuck in recent ranges and looks set to get tighter and tighter.

The momentum/volatility indicators remain in the "walking dead" zone at the moment and definitely need a good kick in the behind to get it started (doesn't matter which way).

I have been looking at it from different angles and I'm guessing that the malaise could be due to fresh bulls continually being bull-dozed by the long liquidators (biggest suspect - ETFs cutting losses) so much so that the bulls have shied away from the market.

So unless the fundamentals are in support of a longer term bull rally, gold remains in purgatory for some more time.

Otherwise, we will likely see gold poke back above 1200 this week.

Interim supports are at 1181.40, 1176.50 & 1167 with minor supports at 1178.60, 1168.70 & 1161.50.

Interim resistances are at 1196, 1202.50 & 1211.40 with minor resistances at 1196.70, 1207.50 & 1210.20.

The daily/weekly trend changer points are at 1211.10/1151.40.

p.s. In case anyone missed me, it was a holiday in Asia yesterday.

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Gold Trends (29 May 2015) - Updates of Mib Agenti

In the weeklies, some of the indicators in the weeklies have just started to show signs of weakness.

It may well be a case of too little too late as in the dailies, quite a few of the indicators are showing that gold is bottoming around here if 1178 holds.

The momentum/volatility indicators in both are almost non-existent so unless there are any catalysts, it will unlikely we might break further lows.

With things stacked on one side, logically we may push higher again next week. So let's keep our eyes glued on the closing.

Interim supports are at 1181.80, 1178.80 & 1169 with minor supports at 1178.60, 1168.70 & 1161.50.

Interim resistances are at 1195, 1198.30 & 1206.70 with minors resistances at 1191, 1196.70 & 1207.50.

The daily/weekly trend changer points are at 1226.45/1148.05.

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