Search
  • Moor Analytics

Gold Still Projected Higher 7/29/20


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 $791 of this. The break above $1,347.0 projected this upward $80 minimum, $320 (+) maximum. We have attained $627.6 of this so far. On 4/2 we left a bullish reversal below that warned of continued strength. We have seen $355.9 so far. The decent break above $1,899.0 projects this upward $170 minimum, $300 (+) maximum based off an ‘ok formed’ pattern. We saw $75.7 before rolling back over and bouncing off of where it came in yesterday at $1,900.5. This will come in at $1,902.0 today. If we break decently back below, I would be out of all longs for the time being and look for decent pressure to come in, likely for days/weeks.

On a shorter-term basis: The short cover back above $1,935.6 (+9 tics per/hour) yesterday took the bull calls above OFF HOLD and warns of renewed strength. We have seen $24.4 of this so far. This will come in at $1,955.7 (+9 tics per/hour starting at 8:20am).


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 Moor