Gold is Bullish Unless we Fail Formation Below 3/1/22
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 OFF 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 decent trade above $1,829.2 (+2.7 tics per/hour) warned of decent strength—we have seen $146.2.The decent trade above $1,880.6 (+.6 of a tic per/hour) also warned of decent strength, possibly for days. We have seen $94.8 before backing off the trendline at $1,975.6 (+2.6 tics per/hour).These are OFF HOLD. Decent trade below $1,898.7 (+3 tics per/hour starting at 6:00am) will project this downward $30 (+); but if we break below here decently and 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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