Gold is Bearish 1/4/22
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. The break above $1,347.0 projected this upward $80 minimum, $320 (+) maximum. We have attained $744.2. These are ON 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. We held exhaustion above with a $2,001.2 high and rolled over $323.8. The trade below $1,915.7 brought in $238.3 of pressure. These are ON HOLD.
On a lower timeframe basis: The break above $1,779.5 (-1.8 tics per/hour) projected this upward $28 minimum, $42 (+) maximum. We have attained $53.5. The trade above $1,790.9 projected this upward $38 (+). We have attained $42.1. These are ON HOLD again. We held exhaustion at $1,830.4-1.5 with a $1,833.0 high and have rolled over $34.8.The trade below $1,815.3 has brought in $17.1 of the pressure warned about below. Yesterday we left a minor bullish reversal above. Decent trade above $1,821.0 will negate this and warn of renewed strength.
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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