Gold is Bullish 1/19/22
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 $1,796.3-7.8 warned of strength--we have attained $31.4.The near maintained gap higher on 1/11 also left a bullish reversal below that warned of strength. The $4.4 break above $1,811.8 warns of renewed strength. Decent trade above $1,816.0 (-2 tics per/hour starting at 5:00am) will put this above a minor pattern that will warn of decent strength; but if we break above here decently and back below decently, look for decent pressure. Decent trade above $1,826.9-7.0 should bring in additional 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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