Gold is in a Bearish Correction or Trend 6/18/21
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. This is 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 decent trade below $1,879.3 projects this downward $24 minimum, $76 (+) maximum. We attained $111.4. I warned we will likely have to contend with possible exhaustion areas on the way down at $1,804.0-767.2 and $1,740.4-29.1—we held the upper of these with a $1,767.9 low and bounced $30 before rolling over to test it again.
On a lower timeframe basis: The decent trade below $1,908.5 brought in $140.6 of pressure. The break below $1,897.6-6.5 (-1 tic per/hour) brought in $128.4 of the pressure warned about. The decent failure below $1,806.1 (-.5 of a tic per/hour) has brought in $38.2 of the pressure warned about below before holding the exhaustion at $1,772.6-67.2.
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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