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

In the daily charts, the short term directional indicators are attempting to push it back under the overbought region but with some news, it averted the inevitable for now and pulled itself higher again. 

So the closing for the week is all important and closing nearer the highs would ensure that we have a fair chance of poking higher still next week. 

As it is, being where it is now, is like in low oxygen altitude and the going gets twice tougher and having a lower close, especially below the 1260 could send it for some correction and if not carefully handled, a medium term correction. 

The medium term trending indicators levelled off in Asian hours and in the midst of trying to undo the slight weakness seen to straighten itself to try to at least match the previous peak. 

Having said that, the recovery is been a decent one.  So no lost love if it decides that the recovery is sufficient and decides to turn tail from here. 

The long term directional indicators are pulling further from the channel as the direction solidified slightly more but has gold pushing right at the top of the channel. 

This is a little frustrating as the gains are painstakingly slow and a cause of uneasiness. 

The momentum/volatility indicators are just creeping higher by a couple of notches and a bit hard to ignite into a fervent state. 

The positive bias remains mostly unchanged at the moment and might keep gold from falling too low.

Interim supports are at 1252, 1247.50 & 1236.50 and minor supports at 1254.80, 1239.30 & 1228.

Interim resistances are at 1271, 1288 & 1309 and minor resistances are at 1272.70, 1278.30 & 1291.40.

The daily/weekly trend changer points are at 1237.40/1287.15.

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

In the daily charts, the short term directional indicators are back into the overbought zone as it somehow managed to pull itself back into the zone and put itself back in contention. 

However, holding and closing above the 1260’s is key for more upside forays. 

Slightly problematic situation is that it is tending so near to the ceiling that, there might not be sufficient space for it to continue pushing higher indefinitely unless gold managed to closely daily above the 1260’s for a week but without new highs made, then the indicator would have resynchronised and good for another stab higher after that. 

The medium term trending indicators shrugged off earlier weakness since in the previous session and now looking right as rain again and could possibly push towards the previous peak if gold led the way and pushed higher still, possibly with 1280’s as the target. 

The long term directional indicators performed a fillip and now pushing against the top of the channel while the indicator is again widening the gap to the bottom of the channel. 

The channel desperately needs to be widened or else, gold may continue flicking up and down as it pleases, making it difficult to hold on to any position meaningfully, unless one doesn’t mind being whipsaw. 

The momentum/volatility indicators are certainly erratic right now, languishing nearer to the lower end, and possibly, easily manipulated as there are no thick wads of orders capping the market either direction and still tens of rungs away from the hot zone. 

The positive bias held stiffly and started opening back wider over the previous session but not too widely such that the bias will be difficult to be closed and reverse it if the market favoured that.

Interim supports are at 1251, 1248.50 & 1238.50 and minor supports at 1239.30, 1228 & 1219.40.

Interim resistances are at 1249, 1260 & 1289 and minor resistances are at 1268.30, 1277.30 & 1280.40.

The daily/weekly trend changer points are at 1232.20/1287.15.

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Gold Trends (26 July 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are cutting down from near the top with the leading indicator trying to anchor itself beneath the overbought zone and if it’s successful, then, it will bring the other indicator under as well. 

With a cursory view of all the other indicators, these indicators if by itself, could bring gold for a nice ride lower targeting at least 1220’s for now. 

The medium term trending indicators are at the most, 2 days away from cutting across and heading lower after that.  

However, gold is not immune to adverse news or events that have a major impact and could easily be coerced to push back higher if such events happen. 

The long term directional indicators are levelling off at a slight quicker pace and the distance between the indicator and the channel is narrowing but no danger of it clashing before the week is out. 

All gold needs to do is hold the 1240’s for the next few days and surviving that, gold could be pushing nearer the recent highs next week. 

The momentum/volatility indicators are nose diving at a steep angle and hard to drive the market too far in any particular direction at the moment. 

The positive bias is also narrowing somewhat urgently but the prospect of turning negative is unlikely within the next 2 days. 

Gold needs to clear and close above the 1260’s by 1 August or a natural forming barrier, to analogise, a ceiling if you may, will be overhead, making it difficult to crash through that, for at least a month after that.

Interim supports are at 1243.50, 1235 & 1228 and minor supports at 1239.30, 1228 & 1219.40.

Interim resistances are at 1249, 1260 & 1289 and minor resistances are at 1251.70, 1268.30 & 1277.30.

The daily/weekly trend changer points are at 1227.10/1287.15.

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Gold Trends (25 July 2017) - Updates of Mib Agenti

In the daily charts, with gold being unsuccessful securing new highs, the short term directional indicators have cut across at the top and likely to turn back and head lower soon. 

At the moment it is still above the overbought zone and the generated signal can be overturned if gold breaks above 1260 and closes above it. 

The medium term trending indicators are seeing the slightest hint of levelling off, but if gold secures the 1250’s and closing above that, over the next 2 days, then it’s just some resynchronisation at the moment and possibility we push towards the recent highs again. 

The long term directional indicators are still pointing northerly but the top of the channel is slow in its ascent and this is impeding gold from rushing too high and too quickly. 

If there is too much pain to continue pushing higher, the market might just tire itself out and start trying the other way once frustration sets in. 

The momentum/volatility indicators are receding again by 2 notches and it can clearly been seen in the price action and the tiny ranges, it’s torturous trading under such conditions. 

The positive bias are getting narrower again and if there is a play to push it back to the other direction, then, it might likely be able to ward off the attack for at least 2 days before it succumbs, if at all. 

For now, gold looks like it will continue in range bound trade while it awaits the next major news to come.

Interim supports are at 1249, 1240.50 & 1236 and minor supports at 1239.30, 1228 & 1219.40.

Interim resistances are at 1265, 1286.50 & 1289.50 and minor resistances are at 1268.30, 1277 & 1280.30.

The daily/weekly trend changer points are at 1222.75/1287.15.

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Gold Trends (24 July 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are well into the overbought zone and for the first time in more than a week, it has finally shown a little weariness as tapering has started and levelling off could be the next order of business. 

However, gold needs to continue pushing higher and higher to avoid the inevitable. 

It will be good if gold manages to push above 1260 and closes above that or else, the indicators will look heavy laden and tempted to break back under the overbought zone which could mean that gold remain weaker thereafter, for a week or two. 

The medium term trending indicators are looking still primed for seeking to at least, test back to the previous peak, probably in the next three days this could be achieved.  

However, gold must consistently close above the 1250 for the next few days or the attempt, could be in trouble.  

Trading below the 1250 but closing back above, does not invalidate the trend for now but closing below, could lead to that on successive closings below that. 

The long term directional indicators are drawing a nice channel but it is stiffly turned upwards and newly birthed direction could mean a longer shelf life for the trend. 

However, gold is pushing right at the top of the channel and hard to make too much headway, has become a victim of its own success. 

So, we need some major news to catalyse gold to break out, well and above the channel and turn it into a runaway market. 

Otherwise, we will continue as we have for the past week, a labourious climb hither. 

The momentum/volatility indicators are recovering very well, almost a 50% recovery so far but still far away from turning red hot any time soon. 

The positive bias has stopped widening and levelled off since the past session, taking a breather from the hectic and forceful action of the previous week. 

Since the bias is not a lot wider, it could be demolished with 3 good days of selling if profit takers start their action early.

Interim supports are at 1249.50, 1242.50 & 1237 and minor supports at 1239.30, 1228 & 1219.40.

Interim resistances are at 1264, 1287 & 1290 and minor resistances are at 1268.30, 1277 & 1280.30.

The daily/weekly trend changer points are at 1217.85/1287.15.

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Gold Trends (21 July 2017) - Updates of Mib Agenti

I was having net issues yesterday and only just fixed it. So, there it goes, in the daily charts, the short term directional indicators have pushed right into the overbought zone.

It has to make the best out of this effort or risk having the move crumbling upon itself the minute it starts wavering. 

If it decides to continue running higher, then, at the earliest, it will be 3 more days before it smacks right into the ceiling and the going will get tough as every new high will be labourious after that. 

The medium term trending indicators are doing very well as it took out the parity line with ease and it could be another week before it nears the peak of the previous high. 

From where it is now, the move looks sustainable for at least 1 more week and 1290 could be targeted. 

So new highs must be made constantly and not drift too low at the closing, in order for the indicator to continue looking positive. 

Lo and behold, the long term directional indicators are cutting below the channel and upwards bearing. 

The only negative is that, gold is already hitting the top of the channel which could impede gold from rushing up too quickly and a good thing that the confirmation is freshly etched, meaning that gold could remain buoyant for at least a week or two. 

The momentum/volatility indicators dribbled to almost zero but recovered by 3 notches since. 

It will be good if it were able to continue building up on it and push back into the hot zone and give the shorters, a run for their lives. 

The positive bias is growing just a little wider and has not yet opened a formidable lead. So in the face of adverse news, the bias could easily crumble back down and turned the other way.

Interim supports are at 1246.50, 1242 & 1235 and minor supports at 1239.30, 1228 & 1219.40.

Interim resistances are at 1255, 1289 & 1307 and minor resistances are at 1268.30, 1277 & 1280.30.

The daily/weekly trend changer points are at 1213.65/1290.60.

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Gold Trends (19 July 2017) - Updates of Mib Agenti

In the daily charts, the short term directional indicators are nearing the 74% level now and with one arm successfully already in the overbought zone ad clinging tenaciously while waiting for the other to also come into the zone and hopefully that is when the fun begins. 

However the idling gold, that is, no new highs were made, is not an encouraging scenario for gold to run excessively, even if the indicators confirmed both arms are in the zone, unless per chance, something major had occurred. 

The medium term trending indicators are taking on the parity line like catching the bull by its horns, a formidable task as it tries to gore its way through the line but so far. 

No weakness and fatigue seen so far and gold could be set to test back to at least 1275. 

So far only half of it has crossed the parity line while the other half is still pushing higher and maybe a day away from attempting it. 

If nothing unforeseen happens, then the parity line should be easily conquered. 

The long term directional indicators are almost cutting below the lower channel and having a kissy time and needs gold to close above 1248 at today’s closing, to confirm the cutting below. 

The only minus is, gold is already pushing on the top channel and a great discourager for fresh buyers as, the market be over just as they created their position and they get whipped in the noisy market. 

The momentum/volatility indicators declined so quickly that it is just mere seconds from hitting the bottom. 

The positive bias retracted earlier on in the day but started widening up a little again after the early fixing as it tries to set the bias in cement, so we can get more distance in this run up.

Interim supports are at 1233.50, 1227.50 & 1214 and minor supports at 1228, 1219.40 & 1212.60.

Interim resistances are at 1246.50, 1249.50 & 1288.50 and minor resistances are at 1242, 1251.70 & 1268.30.

The daily/weekly trend changer points are at 1208.55/1290.60.

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