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 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. 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 below $1,836.9 (-1 tic per/hour) has brought in $56.3 of pressure before short covering off the low. Decent trade above $1,830.3 should bring in decent strength. Trade below $1,816.0-5.8 should bring in pressure. Decent trade below $1,800.9 (+1 tic per/hour starting at 5:00am) will project this downward $30 minimum, $73 (+) maximum; but if we break below here decently and back above decently, look for decent short covering to come in. I warned today has a good likelihood of seeing range expansion.
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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