Gold is in a Short Term Bearish Projection Within a Higher Time Frame Bullish Projection 8/15/22
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 ONHOLD. 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 before being put on hold and short covering off the low all the way up to almost take out the highs and rolling over again, being taken off hold.
On a lower timeframe basis: I warned there is major structural support in the $1,677.9-666.2 general area as well as lower timeframe exhaustion at $1,684.3-79.9--we held both of these on 7/21 with a $1,678.4 low and have rallied $146.2 into a lower timeframe bullish correction/trend. The decent trade above $1,719.0 (-2.2 per/hour) warned of decent strength. We have seen $105.6.The decent trade above $1,779.6 (-1.2 tics per/hour) projected this higher. We attained $45.These are ON HOLD. The break below $1,810.8, put bull calls ON HOLD, and has brought in $20.4 of the pressure warned about below. Decent trade above $1,809.0 (+3 tics per/hour starting at 12:20pm) should bring in renewed strength. A maintained gap lower today is also bearish short term.
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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