Gold is Short Term Bearish 4/14/21
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. On 4/2 we left a bullish reversal below. We have seen $470.7. These are OFF HOLD. I noted we had a higher timeframe exhaustion to contend with that came in at $2,071.6-93.2 that had the potential to bring in a bearish correction—we held this at $2,089.2 and have rolled over $412.8 into that correction. The trade back below $2,043.6 has brought in $366.2 of the decent pressure we were looking for. We held exhaustion above at $1,999.7-$2,006.5 with a $2,001.2 high and rolled over $323.8. The decent trade below $1,915.7 (+2 tics per/hour) brought in $238.3 of pressure. We held lower time frame exhaustion above at $1,857.4-60.4 with a $1,856.6 high and rolled over $179.2. The above bearish formations are now ON HOLD. The solid trade above $1,688.2 (+.3 of a tic per/hour) warned of solid strength, likely for days/weeks. We have seen $71.2 of this so far. This is ON HOLD.
On a lower timeframe basis: The decent break above $1,705.6 also warned of continued strength for days/weeks. We have seen $53.8 of this so far. On 4/1 we also left a short-term bullish reversal below. The decent trade above $1,724.9-5.2 (-1.2 tics per/hour) projects this upward $40 (+). We have attained $34.1 of this so far. These are ON HOLD. The maintained gap lower Friday left the short-term bearish reversal above warned about. We have seen $20.8 of this before short covering off the low. Decent trade above $1,747.6 will negate this and warn of decent renewed strength, taking the recent bull calls from the solid break above $1,688.2 (+.3 of a tic per/hour) and afterward OFF HOLD. Decent trade below $1,705.7-3.3 (-1.2 tics per/hour starting at 8:20am) should bring in continued pressure.
NOTE: this is just a small portion of the market calls I provide my clients twice daily in the Gold 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.
Commodities trading involves a substantial degree of risk and may not be suitable for all investors. Michael Moor does not guarantee profits and is not responsible for any trading losses of subscribers. No representation is made, stated or implied, that any investor will achieve results, profits, or losses, even remotely similar to hypothetical results. Past performance is by no means indicative of future results. Information provided in this newsletter is not to be deemed as an offer or solicitation with respect to the sale of purchase of any securities or commodities. Any copy, reprint, broadcast, or distribution of this report of any kind is strictly prohibited without the express written consent of Michael Moor. Michael Moor may execute transactions in a proprietary trading account that may be consistent or inconsistent with the contents of the newsletter. The content, statements, and viewpoints expressed in this publication are those of Michael Moor solely in his individual capacity and are not attributable to any person or entity other than Michael MoorNOTE: this is just a small portion of the market calls I provide my clients twice daily in the Gold 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.