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Gold is Bearish 8/9/21

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. The break above $1,347.0 projected this upward $80 minimum, $320 (+) maximum. We have attained $744.2. On 4/2 we left a bullish reversal below. We have seen $470.7. 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. The trade below $2,043.6 has brought in $366.2. We held exhaustion above at with a $2,001.2 high and rolled over $323.8. The trade below $1,915.7 brought in $238.3 of pressure. The trade below $1,879.3 brought in $201.4 of pressure. On 6/14 we left a large bearish reversal above that warned of pressure for days/weeks—we have seen $192 of this so far.

On a lower timeframe basis: The break above $1,834.6-5.0 and back below has brought in $155.7 of the pressure warned about. The decent trade below $1,812.8 (+1 tic per/hour) warns of decent pressure. We have seen $134.9 of this so far. The decent trade below $1,806.6, warned of renewed pressure—we have seen $128.7. NOTE: The selloff on GLOBEX damaged remaining structure for the bull trend from August 2018, and only more macro structure remains. That said, the move down from the highs does have a macro corrective nature to it, not trending. We generally held the first major exhaustion that we held in March again at $1,690.5 with a $1,677.3 low, but time wise the ideal timeframe for one of these to hold more permanently is not until May of 2022. Lower levels come in at $1,606.9-567.3, $1,450.9-$1,444.1, and $1,275.4-46.3.

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.

Commodities trading involves a substantial degree of risk and may not be suitable for all investors. Michael Moor does not guarantee profits and is not responsible for any trading losses of subscribers. No representation is made, stated or implied, that any investor will achieve results, profits, or losses, even remotely similar to hypothetical results. Past performance is by no means indicative of future results. Information provided in this newsletter is not to be deemed as an offer or solicitation with respect to the sale of purchase of any securities or commodities. Any copy, reprint, broadcast, or distribution of this report of any kind is strictly prohibited without the express written consent of Michael Moor. Michael Moor may execute transactions in a proprietary trading account that may be consistent or inconsistent with the contents of the newsletter. The content, statements, and viewpoints expressed in this publication are those of Michael Moor solely in his individual capacity and are not attributable to any person or entity other than Michael Moor

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