Gold is Bullish Within Consolidation 7/23/21
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. The trade below $1,915.7 brought in $238.3 of pressure. The trade below $1,879.3 brought in $129.2 of pressure. On 6/14 we left a large bearish reversal above that warned of pressure for days/weeks—we have seen $115.8 of this so far. These are ON HOLD.
On a lower timeframe basis: The trade above $1,688.2 brought in $231 of strength. This is ON HOLD. We held exhaustion on a correction within the move above with a $1,835.0 high and rolled over $45.9. I said in the AM the overnight price action was weak and warned of lower trade--we came off over $11 before breaking back above $1,798.1-7.9, which now warns of decent short covering to come in. Decent trade above $1,814.8 (-1.2 tics per/hour starting at 12:20am) should bring in decent strength; but if we break above here decently and back below decently, look for decent pressure to come in.
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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