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

In the daily charts, the short term directional indicators are drifting lower and towards the oversold region and just a day or two shy of hitting the spot, languishing around the 30% level.

The good news is, only one of 2 things can happen. 

The first being, a complete meltdown and the second is, market continues ranging and a failed attempt at pushing it lower by the week’s end and a recovery higher next week. 

The medium term trending indicators tried hard to cross back higher and the lines were so near to crossing over that they were literally sniffing each other’s butts and failed. 

At the moment, they have almost started repelling one another, pushing it lower, and may open up to fresh selling, if and when it happens. 

The long term directional indicators looks absolutely complacent and almost having no ripples. 

From the looks of it, gold could well be stuck for another 2 months, a gloom period for the position traders but good news for the range traders. 

The momentum/volatility indicators are looking solidly in deep hibernation at the moment and would need a really strong catalyst to heat up the elements to get it moving in a bigger way. 

Or at least, stir it up a little more than the current range.

Interim supports are at 1348.50, 1343.50 & 1334.50 with minor supports at 1335.30, 1327.80 & 1322.60.

Interim resistances are at 1366.50, 1372.50 & 1380 with minor resistances at 1380.80, 1386.25 & 1410.

The daily/weekly trend changer points are at 1330/1256.95.

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Gold Trends (10 August 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are posing lower despite the little filip done in the Asian hour so that could possibly be an Asian thing.  

That is, the market will likely correct itself as the earlier move was slightly against the grain. 

The medium term trending indicators, since the last update, came off and almost flirted with the parity line but somehow managed to keep its nose clean and started holding up and pulling back higher, like the recoil of a bungee cord. 

However, where it is now, it is feebly higher and the earlier soft stance has not been overridden and failure to cut back higher and close above 1360, could doom gold and the indicator may test the parity line by the end of the week. 

The long term directional indicators are still in the middle ground without any queues of a favoured side yet. 

It will so remain for at least another week and half. 

The momentum/volatility indicators are really at desolate levels and would need massive news to awaken the giant. 

It could be the summer doldrums but it could just be, the Olympic effect. 

Whatever it is, keeps gold tightly range bound at the moment, but with a slight tinge on the upper side.

Interim supports are at 1342, 1335.50 & 1329.50 with minor supports at 1315.50, 1303.60 & 1301.

Interim resistances are at 1350, 1370 & 1375 with minor resistances at 1352, 1380.80 & 1386.25.

The daily/weekly trend changer points are at 1329.55/1256.95.

Note: the daily point is almost ripe for the picking.

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Gold Trends (29 July 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are still poised upwards and keeping just above the 50% mark and still a long way off from the overbought zone and could enjoy a nice rally if it suited. 

The medium term trending indicators are faltering at the parity line but that is a common strategy used to shake out the weak longs. 

The long term directional indicators are have gone into cold storage for now as it needs some time to work out it’s next direction and signal. 

The signal can only happen usually in 2 weeks in a quiet market or a violent happened in the interim. 

The momentum/volatility indicators are showing only the faintest of a pulse to indicate that it’s still alive. 

However there is gentle bias, just confirmed yesterday, that it could potentially hold and head higher.

Interim supports are at 1330.50, 1327 & 1319 with minor supports at 1315.50, 1303.60 & 1301.

Interim resistances are at 1367, 1385 & 1406.50 with minor resistances at 1352, 1380.80 & 1386.25.

The daily/weekly trend changer points are at 1315.30/1241.40.

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Gold Trends (28 July 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators have now pushed up higher nicely and almost reaching the half way mark. 

If it pans out nicely, it could remain thus for at least another week and recent highs be revisited. 

The key is not to have a sudden surge but a consistent push higher will see it power above the recent benchmark. 

The medium term trending indicators have nicely turned up and just challenging the parity line with the good move overnight. 

It needs a closing above at least 1343 in order to confirm the cross over into the positive territory. 

The long term directional indicators which were recently mildly negative have now been negated. 

It will take at least a couple of weeks before a new directional can be had. 

The momentum/volatility indicators are still nondescript and clearly would need some help in order to set gold moving out of the recent range.

Interim supports are at 1331, 1327 & 1320.50 with minor supports at 1315.50, 1303.60 & 1301.

Interim resistances are at 1345, 1350.50 & 1370 with minor resistances at 1352, 1380.80 & 1386.25.

The daily/weekly trend changer points are at 1313.35/1241.40.

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Gold Trends (27 July 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators have been holding above the lows and crucial support nicely.  

At the moment, sans any kind of gravity defying news, it has turned up nicely and if chance would have it, be favourably pushing higher or at least keeping slightly firmer. 

The medium term trending indicators although they had earlier pierced the parity line, the soft tone is decaying quickly and if successful, would see a turning back higher this week and successful trend change. 

If that’s done, could mean a revisit of recent highs. 

The long term directional indicators are still having a tinge of softness and dribbling lower but too closely mashed up with no clear winner as yet. 

During the past week, it has come to a much lower level and resynchronised. 

So it could well easily turn around and test back higher. 

The momentum/volatility indicators are really dull at the moment and the next couple of days will likely be non-events if left to their own fundamentals.

Interim supports are at 1224, 1316 & 1309.50 with minor supports at 1315.50, 1303.60 & 1301.

Interim resistances are at 1339.50, 1361 & 1383 with minor resistances at 1335.50, 1338 & 1352.

The daily/weekly trend changer points are at 1312/1241.40.

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Gold Trends (22 July 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators have now turned up, offering some respite from the recent softness seeing gold testing back to crucial support at 1308. 

If it is a good turning, possibly gold could test back to at least 1350. 

The medium term trending indicators are being kept in check at the parity line as it is starting to falter. 

If it manages to hold off further downward pressures, would see gold climbing back as early as the middle of next week. 

The long term directional indicators are meshed together albeit with a slight bearish bias. 

The momentum/volatility indicators spiralled uncontrollable lower and it will be difficult to urge gold to move too significantly in the next few days unless of course there was some earth shaking news. 

It is still maintaining a tinge of softness but may not have the sufficient oomph to push it too low.

Interim supports are at 1316, 1305 & 1301.50 with minor supports at 1315.50, 1303.60 & 1298.30.

Interim resistances are at 1331, 1345.50 & 1363 with minor resistances at 1335.50, 1338 & 1352.

The daily/weekly trend changer points are at 1306.55/1232.90.

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Gold Trends (21 July 2016) - Updates of Mib Agenti

Fortunately my travels permits stopping by a couple of days, of home leave, before going on a new business trip again. 

So a quick update while I am home. 

The short term directional indicators came very near to the oversold zone but now turned back up. 

The medium term trending indicators are testing the parity line, flowing downwards from a height. 

A contest of wills, will be fought here to decide if we see new lows are if the 1300 will be able to hold it here with a major resistance at 1308. 

If it holds, then potentially we have a chance to recover back to at least 1350. 

The long term directional indicators have almost confirmed cutting and if it does, portends that gold will remain weaker for a considerable period longer. 

The momentum/volatility indicators were driven quickly lower such that it is looking lacklustre at the moment. 

However, it is suggesting that bearish phase is not yet over and sometime would be needed to resynchronise all the indicators which have now gone out of whack.

Interim supports are at 1315, 1311.50 & 1301 with minor supports at 1308, 1298.30 & 1294.

Interim resistances are at 1330, 1333.50 & 1355 with minor resistances at 1323.40, 1344 & 1352.

The daily/weekly trend changer points are at 1303.70/1232.90.

Get Gold Trading Chat (Android), excerpts from there