Gold is in Consolidation 8/27/21
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. We held exhaustion above at with a $2,001.2 high and rolled over $323.8. The trade below $1,915.7 brought in $238.3 of pressure. The trade below $1,879.3 brought in $201.4 of pressure. On 6/14 we left a large bearish reversal above that warned of pressure for days/weeks—we have seen $192 of this so far. These are ON HOLD.
On a lower timeframe basis: The decent trade above $65.80-85 warns of decent renewed strength, with a possibility of a run for the highs. We have seen $2.81 of this so far. Monday we also left a minor bullish reversal below. The decent trade above $67.28 (-1 tic per/hour) projects this upward another $5.55 (+); but if we break back below decently, look for decent pressure. This will come in at $66.88 (-1 tic per/hour starting at 9:00am). I said in the Post Market Synopsis that on the day this warns of renewed strength before/if resuming lower trade—we are called $1.09 higher as of 6:53am.
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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