Gold Trends (20 May 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are pushing lower and almost reached the 30% level. 

It is also a tad too near the oversold region, so depths on this drive lower might not going too deep.  

The medium term trending indicators has a confirmed penetration of the parity line at yesterday’s closing.  

Typical market behavior in such circumstances will be, the market will be dribbling around here, trying to hold the parity line. 

This trending indicator might have difficulty pushing lower initially before finally succumbing and we might see gold have a nice drop of at least thirty to forty dollars. 

However, all the other necessary ingredients must be in collusion. If all for one is not possible, then we at least need three of them. 

The long term directional indicators look promising at the moment and they have come together and a good chance for the indicators to be confirmed for a spin lower. 

However it has only come together and not conclusively crossed the line and the confirmation maybe averted should gold close back above 1265 tonight. 

The momentum/volatility indicators has hit rock bottom and may rocket back the other way. 

There is also a tinge of bearishness appearing but can be easily overpowered if gold goes back higher.

Interim supports are at 1248.50, 1241.50 & 1236.50 with minor supports at 1239.30, 1228 & 1218.40.

Interim resistances are at 1256.50, 1259.50 & 1264.50 with minor resistances at 1268.30, 1272.20 & 1278.30.

The daily/weekly trend changer points are at 1300.30/1233.40.

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Gold Trends (19 May 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators have finally crossed and downwards bearing and a pity it’s below the 50% mark. 

That results in less room to push lower before hitting the oversold region. 

Anyway, it didn’t push much lower even as gold was just nearby the 1250’s level. 

The medium term trending indicators on the other hand, put up a nice performance today. 

In one fell swoop, it has pierced the parity line with the move today. 

However, the key to confirming the move, vis-à-vis sustainability, gold has to close below 1250 for today. 

Failing which, that is, it closes above 1260, then it will likely undo the earlier advantage of the selloff and pull it’s hem line back above the parity line. 

The long term directional indicators are very close to triggering a bearish signal but are yet unconfirmed. 

Until it’s confirmed, it has every chance to salvage itself and change the outlook again. 

The momentum/volatility indicators have gone lower by 2 notches and possibly unlikely to push too far from nexus. 

It is looking a little like the long term indicators, that is, it is very close to start looking bearish but still unconfirmed. 

So if the momentum doesn’t build up and the direction change signals does not confirm, we might see a reversal any time soon.

Interim supports are at 1243, 1233 & 1206 with minor supports at 1239.30, 1228 & 1218.40.

Interim resistances are at 1256, 1259.50 & 1266.50 with minor resistances at 1268.30, 1272.70 & 1278.30.

The daily/weekly trend changer points are at 1302.65(triggered today)/1233.40(nice if triggered).

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Gold Trends (18 May 2016) - Updates of Mib Agenti

In the daily charts today, the short term directional indicators are trying to do a bendy here. 

That is, attempting to cut and cross back lower just as it neared the 50% mark. 

That just sets one mulling, why the market has been having such a hard time breaking out of the current range and quite possibly, the market is near equilibrium at the moment. 

The older buyers are turning into sellers but with new buyers taking over the positions, albeit at a higher cost. 

Unless there is a decisive winner, the market may continue in this range for some more time. 

The medium term trending indicators have resumed partially downwards towards the parity line, with just a stump sticking towards that direction but still a distance away from it. 

The long term directional indicators are still inconclusive but depending on where it is keeping the next week, will be helpful to determine gold’s next direction. 

If it keeps lower and nearer 1250, then it should generate a bearish bias and 1285, to generate a more bullish bias. 

The momentum/volatility indicators are showing a weak pulse but with a slight bias upwards and will need gold to test at least 1235 before it can be converted.

Interim supports are at 1261, 1257 & 1252 with minor supports at 1267.20, 1256.50 & 1239.30.

Interim resistances are at 1281.50, 1288.50 & 1302 with minor resistances at 1277.30, 1291.40 & 1305.90.

The daily/weekly trend changer points are at 1265.50/1233.40. 

The daily point is so near you could almost smell it and hopefully it ripe for plucking.

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Gold Trends (16 May 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators have managed to pull towards the 45% level now. 

Having done that, it should be taking advantage of the recovery in the indicator and hopefully push a little higher towards 1300. 

It is wasteful to be looking gorgeous but turns out to be a dud. 

The medium term trending indicators are trying really hard to muscle back into the positive territory. 

It is on the verge of doing just that but needs gold to be closing at least 1285 before it’s confirmed. 

The long term directional indicators are looking none the better than it did last week and it will probably remain anaemic for another week or so as it awaits news to revitalize and new ranges might be seen after that. 

The momentum/volatility indicators while at ultra low levels, remain borderline positive as the jaws of fortune are widening a little.

Interim supports are at 1271.50, 1262.50 & 1258 with minor supports at 1270.60, 1267.20 &1256.50.

Interim resistances are at 1284, 1291 & 1301.50 with minor resistances at 1277.30, 1291.40 & 1305.90.

The daily/weekly trend changer points are at 1262.65/1233.40.

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Gold Trends (13 May 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are trying hard to stop dribbling lower and holding just around the 35% level. 

If it manages to hold off for today’s closing, it may yet bottom out in the short term and pull the other way next week. 

The medium term trending indicators are pulling up short of the parity line as well and looks like it may be trying somersault the other way but it is still too early to tell for now. 

The long term directional indicators are looking lacklustre at the moment and may continue to look uninspiring for the next week or two as it is still stuck in the middle unable to push either way forcefully enough for now. 

The moment/volatility indicators are looking dreadfully dull and that explains the behaviour of the market at the moment. 

Noting that at the moment, it remains mildly positive until it crosses the lines to the other side. 

Recent news must have been too repetitive, such that the market is now callous to it and remains unmoved.

Interim supports are at 1261.50, 1256.50 & 1250 with minor supports at 1267.20, 1254.80 & 1239.30.

Interim resistances are at 1275, 1292.50 & 1304 with minor resistances at 1277.30, 1280.40 & 1291.40.

The daily/weekly trend changer points are at 1260/1221.95.

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Gold Trends (12 May 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators managed to slow it’s descent and even pull cringe back a little such that it’s around the 38% mark. 

The medium term trending indicators have pulled nearer to the parity line and if luck be on the sellers’ side, we might just as well be testing it before the week is out. 

The long term directional indicators are still mired in the middle and no clues yet as to the next direction yet. 

However if everything continues to remain soft for another 2 weeks, then we may see it cutting for the lower. 

The momentum/volatility indicators are slipping away quickly but by no means has it taken a soft stance yet. 

It could just be it’s going into hibernation for now and may yet roar to life, when the winter is over. 

Hopefully, it’s stance will not be commandeered when it re-ignites.

Interim supports are at 1261, 1255 & 1249.50 with minor supports at 1254.80, 1239.30 & 1228.

Interim resistances are at 1271.50, 1277.50 & 1296.50 with minor resistances at 1272.70, 1277.30 & 1280.40.

The daily/weekly trend changer points are at 1257.25/1221.95.

Note – the daily point has almost come into play J so if it’s triggered, maybe some down time soon.

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Gold Trends (11 May 2016) - Updates of Mib Agenti

Being called back to my head office kept me away from the markets for almost 2 weeks but I am glad to be finally home. 

Gold only managed to climb to around 1300 before shying back and that certainly leaves a black mark on its recent performance. 

In the daily charts, the short term directional indicators had merely left an imprint at the overbought zone before forcing itself back lower and it’s around the 35% mark. 

In the medium term trending indicators, the ugly mark is more clearly seen is an undeniable divergence has emerged and it is now heading back towards the parity line. 

That may be reached by the week’s end.  

The long term directional indicators which were having a brief run upwards have now been cancelled and it will take at least a couple of weeks before a new direction solidifies. 

The momentum/volatility indicators enjoyed a brief flurry but has just as quickly, tumbled and receded into passivity at the moment. 

We need new stimulus to crank it up a few notches again and hey days might be had again. 

So even with some of the indicators showing signs of weakness, due to the low momentum, sellers might not get their day.

Interim supports are at 1272, 1261 & 1256 with minor supports at 1270.60, 1267.20 & 1256.50.

Interim resistances are at 1280, 1300 & 1304 with minor resistances at 1278.30, 1291.4 & 135.90.

The daily/weekly trend changer points are at 1256.20/1221.95.

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