Gold Trends (28 February 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are in dilemma as it grazed the overbought zone and was unsuccessful in piercing through in yesterday’s attempt.  

As a result, that has started making the market looking softer today as the indicators have crossed over and cut for the lower now. 

Perhaps the reason gold has not yet suffered from the effects makes it look like it is defying gravity by staying up despite the indicators. 

The medium term trending indicators are not looking too healthy at all. 

It certainly looks like a triple divergence being fleshed out at the moment and the indicators have almost crossed over and cut across in confirmation. 

If gold closes below 1248, then the highs are done for this round and gold should be dribbling back lower. Gold can only avert the imminent if it manages to cross back the 1260’s and close above that to keep it in play. 

The long term directional indicators continue rising and at a nice angle. 

With the ceiling being set low here, makes it difficult for gold to push too high below being pulled back, earthwards. 

Try doing high jumps with bungee cords tied to your feet. Only 2 things can happen and that is, you jump so hard that the cords break or you get pulled backwards. 

So what gold needs to do here is to push with so much force, that the cords tying it down, breaks and that could nicely set gold to test the 1300’s. 

The momentum/volatility indicators are waning and lost about three notches, as gold decided to take a step back for now. 

The positive bias which was levelling off have now became minutely less positive but it is lodged deep in the positive territory and not a worry it will flip to the other side just yet.

Interim supports are at 1246, 1232 & 1228 with minor supports at 1239.30, 1228 & 1218.40.

Interim resistances are at 1260, 1272.50 & 1289.50 with minor resistances at 1268.30, 1272.70 & 1278.30.

The daily/weekly trend changer points are at 1238.05/1161.85.

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Gold Trends (27 February 2017) - Updates of Mib Agenti

Duty called and I answered and so I had to travel abruptly at the eleventh hour last week. 

I will just be back a couple of days and I should be away again latter half of the week. 

Anyway, it is nice to see that gold finally tasted the 1250 and came out on top. 

It tested highs of around 1260 before easing a tad into the closing. 

In the daily charts, the short term directional indicators are poised nicely, just straddling at the overbought zone and ready to make a dash higher and into the zone and hopefully, bringing gold along for the ride. 

The medium term trending indicators are looking mighty fine with a little self-doubt setting in at the moment as it struggles to go back to the highs. 

It will more than likely be able to do just that but the trick is to close near the highs, in order to gain new territory, like the 1260’s. 

The long term directional indicators are looking uncluttered for now but headway is met with the generated ceiling. 

It has protruded over the ceiling and now it must run like crazy, in order to bring about a new range into being. 

The momentum/volatility indicators are uninspiring at the moment but are at good levels where spurring it along is easily ushered. 

The positive bias gap contracted overnight but largely remains, highly positive for now.

Interim supports are at 1244.50, 1232.50 & 1225 with minor supports at 1254.80, 1239.30 & 1228.

Interim resistances are at 1262.50, 1273.50 & 1290 with minor resistances at 1268.30, 1277.30 & 1280.40.

The daily/weekly trend changer points are at 1233.15/1150.90.

Gold Trends (17 February 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators have managed to cut back up a little. 

The signal will only solidify if at the closing, it manages to close above 1240’s. 

Once that’s done, we could probably look forward for gold to push toward the 1250’s and try to trigger the stops waiting like ripe cherries, perfect for the picking. 

The recent range has really been boring and hopefully a new range is achieved and brings some freshness into the market.  

The medium term trending indicators are having a stab higher as they have managed to cut back higher as well, doing a mid-air turn in the process, which is pretty impressive.  

However, the danger is if the market refuses to run higher than the previous high, which could then set up the making of a divergence. 

The long term directional indicators managed to weasel out of the prickly situation of being meshed together and have now righted itself and just started separated and distancing itself from each other. 

In a sense, you could say that it pushed itself back into play by sheer force of will. 

The momentum/volatility indicators are pushing higher by 3 notches with the positive bias just dialing higher be a wee bit. 

The down side of it all is, it becomes a nonstarter and it will crumble back lower again.

Interim supports are at 1234, 1229.50 & 1223 with minor supports are at 1228, 1218.40 & 1212.60.

Interim resistance are at 1245, 1261 & 1263.50 with minor resistances at 1242, 1251.70 & 1268.30.

The daily/weekly trend changer points are at 1216.40/1142.75

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Gold Trends (16 February 2017) - Updates of Mib Agenti

In the daily charts, the short term direction indicators have made a u-turn from its earlier path and started pointing northerly. 

However, the negative bias has not yet been cancelled as they have not crossed over, one over the other.  

It could just be a blip in the gold price as it continues to try to worm its way back higher. 

The medium term trending indicators have levelled even more today as gold lingers above 1230’s. 

The fierceness of the slope is decreasing and needs gold to close above 1250 before it is near enough to change the trend. 

The long term directional indicators have just cancelled the positive bias, and usually after the direction are obliterated, it goes into a consolidative phase and hopefully, it doesn’t last more than 2 week this time, if at all. 

The momentum/volatility indicators are losing ground steadily as it recede quickly back lower. 

It has lost almost 50% advantages, as gold continues to contend with the recent range. 

Pushing too high or too low will not be an easy task as the zip is quickly evaporating. 

The positive bias has started opening up again in the early Asian session and has helped gold to latch on the early gains and enabled it to just play around the 1240’s level.  

It was overheard in the market, the stops are being line above the 1250 and if that’s tested, could be just what the market needs to speed it to 1300’s. 

At the lower side, a closing below 1218 dooms it to rush it to 1200.

Interim supports are at 1232.50, 1227.50 & 1223.50 with minor supports at 1228, 1218.40 & 1212.60.

Interim resistances are at 1241.50, 1260.50 & 1287.50 with minor supports at 1238, 1242 & 1251.70.

The daily/weekly trend changer points are at 1216.40/1142.75.

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Gold Trends (15 February 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators have overrun the 50% and are now languishing at the 40% mark. 

If gold will have it’s way, we could at least be touching the top of the oversold region by the end of the week. 

Gold will have likely follow suit and could test as the lows 1200’s. 

The medium term trending indicators are being drawn really nicely and it has come off by 50% from the peaks and the parity line could be challenged nearer next week’s ending. 

That is, if it continues to make its way lower. 

The long term directional indicators have finally managed to push, cut and confirm that for now, the positive bias is finally over for the moment. 

The bad news is, we could enter into a consolidation phase spanning at least 2 weeks if it became complacent. 

The momentum/volatility indicators have finally started falling down to earth again by more than 2 notches. 

The positive bias is getting a lot narrower too but the gap is still too wide to be closed within a day.

Interim supports are at 1218, 1208 & 1197.50 with minor supports at 1218.40, 1212.60 & 1204.70.

Interim resistances are at 1230, 1243 & 1259.50 with minor resistances at 1231.40, 1238 & 1240.70.

The daily/weekly trend changer points are at 1213.70/1142.75.

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Gold Trends (14 February 2017) - Updates of Mib Agenti

Due to some pressing matters, only a brief reading for today is knocked up. 

In the short term directional indicators is still crumbling lower and come to almost the 50% mark now and it just might try to hold here and if successful, gold might then have a mini recovery on the back of that. 

The medium term trending indicators are still favouring further downside forays, having corrected only around 40% from the highs and the gradient of the drop is too steep to fend off effectively. 

So even if there were attempts to stabilize it here, the effects of which can only be seen at least 2 days later. 

The long term directional indicators are holding steady just here, in case the market needs to run either way, it is then easy to tip it over into the hot zone. 

The positive bias is getting narrower as the gap narrows further today but not in danger of being cancelled just yet. 

If is not unforeseeable if a dalliance occurs before resuming it push higher, later on, but only in time, then we can tell.

Interim supports are at 1229.50, 1224.50 & 1214 with minor supports at 1218.40, 1212.60 & 1204.70.

Interim resistances are at 1237, 1245.50 & 1258.50 with minor resistances at 1238, 1242 & 1251.70.

The daily/weekly trend changer points are at 1210.25/1142.75.

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Gold Trends (13 February 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators continue its downward spiral but strangely, gold was only half convinced. 

It followed it lower but towards the closing, rose back and closed above the 1230’s. 

The indicators are pushing back below the overbought region and at around the 75% mark now. 

Gold will likely continue to be under pressure for now. The medium term trending indicators have a nicely formed divergence so gold is pressured from the starting of the week and the parity line attracts. 

Gold has largely shrugged off attempts to sell into it and propped it back higher. 

As it had recently peaked, gold could take up to 3 weeks dwelling nearer the lower end of the recent ranges, as it resynchronizes itself and next direction becomes apparent. 

The long term directional indicators are levelling off and near to being parallel to the axis. 

The gaps between the indicators are also narrowing but the direction has not been confirmed cutting to a reversal yet. 

The momentum/volatility indicators are back into the unexciting, nothing’s happening zone for now. 

There is also a convergence of the indicators and this round, failure on the upside, possible could cause a flurry on the downside. 

The positive bias gap is getting narrower but still far from over at the moment.

Interim supports are at 1221.50, 1219.50 & 1209 with minor supports at 1218.40, 1212.60 & 1204.70.

Interim resistances are at 1228, 1248 & 1259.50 with minor resistances at 1231.40, 1238 & 1242.

The daily/weekly trend changer points are at 1206.40/1142.75.

Get Gold Trading Chat (Android), excerpts from there