Gold is Bullish on a Lower Timeframe Basis 3/24/22
On a higher timeframe basis: I cautioned on 8/16/18 the break above $1,179.7-$1,183.7 warned of renewed strength. 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. This is ON HOLD.
On a lower timeframe basis: The trade above $1,829.2 (+2.7 tics per/hour) warned of strength—we have seen $249.6. The trade above $1,880.6 also warned of strength. We have seen $198.2. These are ON HOLD. The trade below $2,003.6 (+ 5 tics per/hour) warned of pressure. We have attained $108.4. The trade below $1,965.6 (+2.7 tics per/hour) projects this down $100 (+). These are ON HOLD. The decent trade back above $1,929.8 (-2 tics per/hour) warns of renewed strength--we have seen $19.5. Decent trade back below where this comes in at $1,926.9 (-2 tics per/hour starting at 5:00am) should bring in decent pressure. Decent trade below $1,920.1(+1.5 tics per/hour starting at 5:00am) will project this downward $31 minimum. A maintained gap higher will leave a medium-term bullish formation below as well.
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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