On a macro basis: I cautioned on 8/16/18 the break back above $1,179.7-$1,183.7 warned of renewed strength. We have seen $605.1 of this. The break above $1,347.0 projects this upward $80 minimum, $320 (+) maximum. We have attained $441.3 of this so far. We are likely in the later stage of the bull structure from $1,046.8 upward.
On a shorter-term basis: On 4/2 we left a bullish reversal below that warned of continued strength. We have seen $167.6 so far. The maintained gap higher on 4/22 left the short- term bullish reversal warned about below that warned of higher trade, likely for days. We have seen $49.6 so far. The decent trade above $1,718.0-$1,718.4 projects this upward $51 (+). We have seen $46.2 of this so far. If we trade $1,704.8, the $1,718.0-$1,718.4 area will be violated and I would look for a run back down toward $1,665 (-). The only pause I have to the run up is we held the last possible exhaustion area (if this is a corrective move against the move down from $1,788.8) at $1,762.6 with a $1,764.2 high and have rolled over $37.2. The $1,762.6-$1,764.2 area needs to be taken out to regain upside momentum, otherwise this will likely continue to come off.
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.