Gold Trends (09 September 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators have hooked backed below the overbought region but it has not crossed each other out yet and so the change in direction remains unconfirmed for now. 

All gold needs to do is to continue tending away from the recent highs, holding around the 1330 levels, the indicators will have confirmed by then in a couple of days. 

The medium term trending indicators are also in trouble today as they are also gravitating and lulled lower, removing early on some of the urgency seen in the push up previously. 

That being said, there is a soft touch but the indicators have not been compromised as yet and could be a play in the making, that is, bring it towards the parity line to shake off the weak longs. 

So we should be extra careful when the parity comes into play and correspond with the other indicators at that point of time. 

The long term directional indicators have been a futile move in the push higher as the market is not able to convert that. 

It would have helped if gold had managed to continue holding near the highs and daily closing above 1360 and the signals would have been confirmed. 

The momentum/volatility indicators are looking more depressing as the days goes on as nothing seems to excite gold anymore. 

However, that should be us on double alert as, when it’s too quiet, something will likely be brewing in the undercurrents.

Interim supports are at 1333.50, 1328 & 1315.50 with minor supports at 1327.80, 1315.50 & 1303.60.

Interim resistances are at 1352, 1356.50 & 1368 with minor resistances at 1338, 1352 & 1380.80.

The daily/weekly trend changer points are at 1306.80/1282.80.

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Gold Trends (08 September 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators have gone deeper into the overbought zone and without a corresponding price action in the gold. 

That makes it a little worrisome as it is out of sync and usually in such instances, the price prevail. 

The medium term trending indicators are positively above the parity line now but it is not extending higher with slight signs of trend weariness. 

If it doesn’t start moving higher and close above 1360 soon, we will see trend retardation and then decay and finally failure. 

The whole process could be over in 3 days. 

The long term directional indicators are so close to converging, but with the lower gold price action makes it doubly difficult to close in a positive light and provide too much impetus for gold to try higher at the moment. 

The momentum/volatility indicators have dropped a notch and may see slide back to a state of dispirited range bound activity. 

It is hard to get excited with the market in such a phase but luckily summer is almost over and hopefully, we have a bang to the close of the year. 

It looks and feels like we maybe building up to that as it’s the most peaceful at the eye of the storm.

Interim supports are at 1335.50, 1327.50 & 1314.50 with minor supports at 1344.20, 1335.30 & 1326.

Interim resistances are at 1355.50, 1358 & 1373.50 with minor resistances at 1352, 1380.80 & 1386.25.

The daily/weekly trend changer points are at 1304.90/1282.20.

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Gold Trends (07 September 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators have pushed up too much overnight and have in fact, just made contact with the overbought zone. 

It is a pity that the move was not measured so that gold could have had a better chance of breaking the recent highs as it will get tougher to push too much higher with the indicators are current levels. 

The medium term trending indicators have pushed well past the parity line with more upside bias for now. 

Basing on just this indicator, it looks like gold has still a long way to go for testing higher but we have always to keep our eyes on the development of the other indicators too. 

The long term directional indicators are trying hard to cut below the lower rib and if it’s successful, would underpin prices, usually for a longer duration. 

However, it is still at least 2 days away from any confirmation and that will require gold to at least test and close for the week at least 1360 or higher. 

The momentum/volatility indicators have only just woken up a little and the heat needs to be turned up at least 3 more notches, and quick, before the market is able to make anything out of it.  

Failure to do so will send it back into slumber land and range trading will likely rule the market for some more time.  

Interim supports are at 1335, 1325 & 1314 with minor supports at 1344.20, 1335.30 & 1326.

Interim resistances are at 1354, 1374.50 & 1387.50 with minor resistances at 1352, 1380.80 & 1386.25.

The daily/weekly trend changer points are at 1302.90/1282.80.

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Gold Trends (06 September 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators pushed to almost the 60% mark before the London am fix without having a corresponding move in the actual price. 

This would have been a little worrying if gold didn’t play catch up to the indicators but luckily it did. 

Had it not and the indicators had kept on rising, would have made for a good sell when the indicators turned back lower. 

However, with the indicators already at such a high level, could mean that it is running out of upside maneuverable room at the top end of the range before hitting the overbought region. 

That is to say, on its own, it will be difficult to break out from recent highs unless there was powerful news behind it. 

The medium term trending indicators are shaping up rather nicely and probably touch the parity line from beneath by the week’s ending. 

That will keep gold teetering nearer the higher end of the ranges, at least for now. 

The long term directional indicators have only negated recent weakness and nowhere near to forming a new direction for at least a week and a half. 

The momentum/volatility indicators are racked 1 bar higher and that’s about it. 

It is still insufficient to provide the basis of a really good move. 

So there might not be too much depth or, the moves in either direction do not have much sustaining power.

Interim supports are at 1328.50, 1323.50 & 1314.50 with minor supports at 1315.50, 1303.60 & 1298.30.

Interim resistances are at 1335, 1351.50 & 1365.50 with minor resistances at 1335.50, 1338 & 1352.

The daily/weekly trend changer points are at 1332.25/1282.80.

Note: The daily trend changer point was overran and now underpins prices for now.

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Gold Trends (05 September 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are nicely bearing upwards and just shy of touching the 50% mark. 

After all, it is a market holiday, that is, the US Labour Day Holiday. 

The market has been very docile today with nothing otherworldly happening with most preferring to sit on the sidelines, happy to just idle till at least, the market movers are back tomorrow. 

The medium term trending indicators are turning up really nicely and only in the middle of their recovery. 

Even if there were no power pushing it higher, with the indicator thus formed, would suggest that it will at least remain nearer the firmer side so the lower supports will bereft of a visit anytime soon, at least for another week. 

The long term directional indicators have finally managed to negate the bearish signals for now. 

However, that will mean that it will need time to re-synchronise and strategise its next move, and at the quickest, will take at least 2 weeks before the new trend becomes apparent. 

The momentum/volatility indicators are still nonstarters and of no use in helping gold moving too far away from current ranges. 

There is a slight tinge of bullishness at the moment but the problem is, it is not running away.

Interim supports are at 1322, 1314 & 1306.50 with minor supports at 1315.50, 1303.60 & 1298.30.

Interim resistances are at 1327.50, 1332.50 & 1351.50 with minor resistances at 1335.50, 1338 & 1352.

The daily/weekly trend changer points are at 1337.20/1282.80.

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Gold Trends (02 September 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators look like they are in the midst of trying to turn back higher. 

In fact, they are trying to breach back above the oversold zone. 

Once this is set in stone, then gold will stand a better chance to head back higher to at least 1350 in the interim of this recovery run. 

The trick is not to run too fast or else the indicator will peak far too early and we might see it backpedaling sooner than we like. 

The medium term trending indicators are finally showing a little mettle and trying to fend of the recent lows and attempting to put an end to the recent softness by trying to cut back for the higher. 

If it is tastefully and successfully done, could see gold recover back to recent highs with ease. 

As it is coming from deep within the negative zone, it has lots of potential to push it back higher, a lot higher. 

The long term directional indicators are at the last, still bearing southwards but if the short and medium term indicators have confirmed turnings, might breathe some of the positiveness into this indicator and cull the weakness out of it and go into some consolidation.  

The momentum/volatility indicators need steroids urgently and it can easily go from snail’s pace into hibernation mode fairly quickly as the levels are really too low and will be difficult to dial it up to a running mode, if at all, in the next week.

Interim supports are at 1312.50, 1305 & 1299.50 with minor supports at 1315.50, 1303.60 & 1298.30.

Interim resistances are at 1324.70, 1335.80 & 1356.50 with minor resistances at 1335.50, 1352 & 1380.80.

The daily/weekly trend changer points are at 1342.90/1276.90.

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Gold Trends (01 September 2016) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are at such low levels that it just needs to touch 1300 and possibly we might hit the bottom – first level and psychological support. 

The market pushed really hard in the Asian hours towards 1300 but bargain hunters underpinned and disrupted efforts of the sellers. 

What is not good here is, after having come to such a low level and if it just closes back above the 1310, might see this indicator on the verge of crossing back up and a good chance of it happening. 

With that, market will go into a recovery for at least a week or so.  

The medium term trending indicators are going deeper in the negative territory and could remain negative for a longer period of time. 

The long term directional indicators are also forming up nicely and still looking like a classical definition of a bearish market. 

The momentum/volatility indicators have not arisen from its stupor of summer and still sloth-like and rests like a giant, waiting to be awaken. 

However, to wake this behemoth, needs tremendous effort and anything short of that, will be futile. So we might not see 1300 broken in this round.

Interim supports are at 1301.50, 1299 & 1274 with minor supports at 1303.60, 1298.30 & 1294.

Interim resistances are at 1318, 1323.50 & 1335 with minor resistances at 1316, 1335.50 & 1352.

The daily/weekly trend changer points are at 1249.60/1276.90.

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