Gold in Consolidation Within Bullishness 5/24/21
On a higher timeframe basis: I cautioned on 8/16/18 the break above $1,179.7-$1,183.7 warned of renewed strength. We have seen $905.5 of this. The break above $1,347.0 projected this upward $80 minimum, $320 (+) maximum. We have attained $744.2 of this. On 4/2 we left a bullish reversal below. We have seen $470.7. The above formations are OFF HOLD. We held major exhaustion at $2,071.6-93.2 with a $2,089.2 high and rolled over $412.8 into the macro bearish correction warned about. The trade below $2,043.6 has brought in $366.2. We held exhaustion above at $1,999.7-$2,006.5 with a $2,001.2 high and rolled over $323.8. The trade below $1,915.7 (+2 tics per/hour) brought in $238.3 of pressure. The above formations are ON HOLD. The trade above $1,688.2 (+.3 of a tic per/hour) warned of solid strength, likely for days/weeks. We have seen $203.1 so far.
On a lower timeframe basis: The trade above $1,705.6 brought in $185.7 of strength. The trade above $1,724.9-5.2 (-1.2 tics per/hour) has brought in $166 of this. The trade above $1,747.6 has brought in $143.6 of strength. We held exhaustion below at $1,754.2-50.7 with a $1,754.6 low and bounced $136.6. The decent trade above $1,836.1 (-.5 of a tic per/hour) projects this upward $30 minimum, $213 (++) maximum. We have attained $55.1 so far. If we break back below decently, look for decent pressure, likely for days. This will come in at $1,828.9 (-.5 of a tic per/hour starting at 8:20am). Decent trade above $1,886.7 (-.6 of a tic per/hour starting at 8:20am) should bring in continued strength; but if we break above here decently and back below decently, look for decent pressure.
NOTE: this is just a small portion of the market calls I provide my clients twice daily in the Gold, Bitcoin, and Energy complex. 'Decent penetrations' are specific amounts and provided to clients daily as well. If you are interested, please feel free to reach out.
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