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GOLD for 3/27/20


I cautioned on 8/16/18 the break back above 11797-837 warned of renewed strength.We have seen $521.6 of this. This is ON HOLD. We are now in a bearish correction against the move up from 11816 in August of 2018. This bearish correction may now be complete, or this is a large pullback within it before probing for deeper levels, but the short-term bias mentioned below is currently bullish. If we take out 17043, the bearish correction is complete.The decent trade above 15035 (-5 tics per/hour) put this above a minor formation that warned of decent short covering—we have seen $195.8 so far.The $35.1 violation of 15640 is also a sign of renewed strength and suggests a good likelihood we will head back up to test 17040 (+)—we came shy of this by $4.7 before backing off the high.NOTE: this is just a small portion of the market calls I provide my clients twice daily in the Gold and Energy complex. If you are interested, please feel free to reach out.