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. This is 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. This is ON HOLD.
On a lower timeframe basis: The decent break above $1,729.9 (-4 tics per/hour) has brought in $72 of renewed strength. The decent trade above $1,746.0-6.3 has brought in $55.6 of strength. The decent trade above $1,755.8 (-1.5 tics per/hour) has brought in $46.1 of the strength we are looking for above. These are ON HOLD. I cautioned we had a level of possible corrective exhaustion to contend with above at $1,802.5—we held this with a $1,801.9 high and rolled over. I warned the decent trade below $1,793.4 (+1 tic per/hour) should bring in decent pressure (likely for $30 (+))--we have attained $32.6 so far. Decent trade below $1,768.9 (+1.5 tics per/hour starting at 8:20am) should bring in additional pressure; but if we break below back above decently, look for decent short covering.
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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