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GOLD for 1/17/20


On a very short timeframe we are currently holding the temporary exhaustion warned about below at 15363-31 with a 15364 low and have bounced $22.4. The decent trade above 15493 warns of higher trade (we have seen $9.5 of this so far) and suggests the move down from 16133 may have been a more minor correction. The near maintained gap higher also left a short-term bullish reversal below. Decent trade back below 15476-73 will negate this and reestablish the bear calls. Decent trade above 15641 will project this upward $27.5 (+) but can withstand $7 of violation and remain valid. Today has a good likelihood of being a range expansion day. NOTE: this is just a small portion of the analysis I provide my clients twice daily. Please feel free to reach out if you are interested in a free trial.

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