Gold is Bullish Within Macro Bearish Correction 7/6/21
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 of this. The break above $1,347.0 projected this upward $80 minimum, $320 (+) maximum. We have attained $744.2 of this. We held another exhaustion within this at $1,416.0-$1,413.7 with a $1,412.1 low and rallied $676.9. 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. This is ON HOLD as well.
On a lower timeframe basis: The decent trade above $1,767.0 (-3 tics per/hour) projects this upward $16 (+). We have attained $42.6. The decent trade above $1,782.7 (+.5 of a tic per/hour) has brought in $26.9 of continued strength. The decent trade above $1,784.3 (-.5 of a tic per/hour) projects this up $36 (+). We have attained $25.3 so far. Decent failure back below where this comes in at $1,781.9 (-.5 of a tic per/hour starting at 8:20am) should bring in decent renewed 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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