GOLD PROJECTED HIGHER 4/23/20
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. These are OFF HOLD.
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 before being put on hold with the near maintained gap lower on 4/15. This is now OFF HOLD. On the correction against the move upward from $1,453.0 we held exhaustion at $1,675.4-$1,660.5 with a $1,666.2 low and have bounced $87.8. The maintained gap higher left the short- term bullish reversal warned about below that warns of higher trade, likely for days. We have seen $39.4 so far. The decent trade above $1,718.0 projects this upward $51 (+). We have seen $36 of this so far. If we violate this by decently (see NOTE below), look for a run back down toward $1,665 (-). The violation of the bearish reversal above left on 4/17 with the decent break above $1,726.3 also warns of a run toward $1,788.8 (+).
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.