Gold Trends (27 July 2015) - Updates of Mib Agenti

Gold opened near Friday's closing in Asia and didn't do very much until the Chinese stocks started diving to down 5% and made a feeble attempt higher.

The sell off didn't stir much interest even when the composite was down 8.5% and gold shrugged off the news and made its way softer again.

It could have at least taken out the daily trend changer point located at just 1109.05, and some recovery would have been very likely assured.

However, the good news is, the point will be lower tomorrow.

At this point, a medium term trend indicator is trying to turn back higher but needs a closing of at least 1100 or it will start to waver.

Once the turning is confirmed, then we may poke as high as 1130.

There appears to be a divergence, albeit a small one, in the momentum/volatility indicator.

Looking at the height of that now, it might cause gold to pull back to at least 1150 when it goes back the other way and re-syncs itself.

Interim supports are at 1088.60, 1078.70 & 1068.20 with minor supports at 1070.40, 1030.80 & 1023.80.

Interim resistances are at 1109.50, 1112.30 & 1142.20 with minor resistances at 1123.20, 1132 & 1143.

The weekly trend changer point is at 1210.00.

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Gold Trends (24 July 2015) - Updates of Mib Agenti

Gold is well below 1095 and I am waiting for the slam to happen.

Maybe the market is just waiting to do the last minute dash, in the last moments of the market, give it a shove into a bad closing and let the Monday revellers continue the course set and see how far it goes from there.

However, if NY abandoned the work done in Asian hours and close 1095 or higher, then we should be weary as a medium strength indicator would start looking chirpy in the dailies and may herald some recovery by next Wednesday.

Besides that, a bunch of the faster technicals are in the process of turning up and showing that we should have some recovery in the short term.

The momentum/volatility indicator has not increased with today's move with a small divergence in it.

Coming to the weeklies, although it looks super heavy, there is a slight tinge of looking overdone appearing in just a couple of indicators so that might put the brakes on in the short term.

Interim supports are at 1076.50, 1068.80, & 1062 with minor supports at 1070.40, 1030.80 & 1023.80.

Interim resistances are at 1087.50, 1096.50 & 1108 with minor resistances at 1085, 1123 & 1132.

The daily/weekly trend changer points are at 1117.05/1221.55.

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

Gold although looks pressured in the dailies, one of the medium term technicals, is starting to form a base of sorts should gold continue to hold steady, minimum 1195 or higher and must not see any new lows.

Then possibly we might have a mini recovery on our hands with a potential towards 1130 if successful.

Since it only just began, it will be flimsy for now but grows stronger each day it resist selling pressures and keep nearer to 1100 at each closing.

In the weeklies, the faster indicators are showing some early signs of trend exhaustion and will be further firmed up if no new lows are seen in the next month and if it coincides with the dailies at that time, then we may see gold recover to at least 1175.

Interim supports are at 1088, 1077.20 & 1074.50 with minor supports at 1070.40, 1030.80 & 1023.80.

Interim resistances are at 1098, 1109 & 1118 with minor resistances at 1123.20, 1132 & 1142.20.

The daily/weekly trend changer points are at 1124.65/1221.55.

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

The momentum/volatility indicators in the dailies are at it's highest levels since 2012 and it is not able to secure the 1100's (soft).

However, if the slam doesn't happen soon enough, by mid next week at the latest, and wanders back above 1100, gold will start looking over done and give us cause for some recovery.

In the weeklies, this move is just in its infancy and if it plays out as if it's a textbook case study, then, potentially 793 is where the move's objective is, where we are headed, but that's on a longer term basis, maybe will take 4 to 5 months to achieve.

Otherwise without new lows being made, some of the indicators in the dailies are looking weary and feeble attempts are being made to turn them up and over some time, the feeble attempts grows stronger and then we have our recovery, albeit a minor one. (Cover the gap - gap theory?)

Interim supports are at 1082, 1079.80, & 1074 with minor supports at 1070.40, 1030.80 & 1023.80.

Interim resistances are at 1093, 1097.50 & 1108.50 with minor resistances at 1123.20, 1132 & 1142.20.

The daily/weekly trend changer points are at 1134.10/1221.55.

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

Rechecking all the indicators earlier today, I was saying yesterday that "Technically, gold is still very much under pressure.......would be complete if 1050......", actually, where it is now, technically the move looks complete as yesterday's closing was not yet factored in but with the closing in place, the move now looks complete.

Simply put, if gold stays at least 1100 and higher, by next week (Weds), we might see gold putting some distance from the lows.

Unless there were some upheavals, it will only be retracements and not that the market turned bullish again.

To maintain the soft bias and see more supports being challenged, then, it needs to continue keeping below 1100 and not dally too long, or it will lose it's fervour.

At this point, no matter which technical/chart that you look at, will only show softness ahead unless you know what to look at and watch out for.

In a slightly longer time frame, gold is still very much under pressure.

Interim supports are at 1100.40, 1095.70 & 1080.70 with minor supports at 1070.40, 1030.80 & 1023.80.

Interim resistances are at 1111.70, 1122.20 & 1130.50 with minor resistances at 1123.50, 1132 & 1142.20.

The daily/weekly trend changer points are at 1145.60/1221.55.


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

Having a close below the 1140 seemed to do the trick with sellers elicited and stops were being gunned down by High Frequency Traders which saw gold plummet from 1130 to 1080 (futures) in the span of 1 minute.

In both the daily & weekly, gold has traded below movable bands 1116/1112.

When this happens, it must be "run" away but if at the closing, it manages to claw back and close back in the band, at this point, usually retracements would follow, that is, failure to break away.

So potentially it may recover to 1147/1165.

Technically, gold is still very much under pressure and the daily suggest that the down move would be complete if 1050 is achieved in the short term.

Otherwise it will start looking oversold.

The weeklies paint a more dire picture but that is in the longer term.

Interim supports are at 1100.50, 1095 & 1090 with minor supports at 1070.40, 1030.80 & 1023.80.

Interim resistances are at 1119, 1123 & 1126 with minor resistances at 1132, 1133.50 & 1142.20.

The daily/weekly trend changer points are at 1154.80/1221.55.

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

Gold is under continuing downward pressures with the possibly unavoidable rate hike just looming in the horizon.

In all likelihood, it is the Greek conundrum and the momentum/volatility being only in the first gear that is still keeping it from an all hell break loose scenario at the moment.

That is why though it is soft, it is only gently pushing lower.

All the more pity since the dailies and weeklies are both in sync for once with downside bias.

If it continues to be slow moving, the maybe we only get to mid 1120's.

If it becomes a push and shove, then we may even get as low as 1080 in the next 2 weeks.

Our wish may yet be granted as in the dailies, the momentum/volatility indicator just need a nudge (maybe need to break and close below 1140) by at least next Wednesday or it will start looking overbought and scuttle back upwards for a little time (technical adjustment).

Interim supports are at 1142.60, 1118.20 & 1098 with minor supports at 1132.80, 1128.20 & 1124.40.

Interim resistances are at 1155.70, 1170.30 & 1187.50 with minor resistances at 1156.90, 1166.50 & 1177.20.

The daily/weekly trend changing points are at 1163.50/1227.30.

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