NOTE: I have been away on vacation, thus the lack of blogs over the past week (+)
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. This is 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. This is ON HOLD.
On a lower timeframe basis: The decent break above $1,729.9 (-4 tics per/hour) has brought in $52.9 of renewed strength. The decent trade above $1,746.0-6.3 has brought in $26.5 of strength. The decent trade above $1,755.8 (-1.5 tics per/hour) has brought in $26.8 of the strength we are looking for above before rolling over. These are ON HOLD. The trade above $1,762.3 (-1 tic per/hour) brought in $20.1 of the strength warned about above, (although I stopped short of suggesting leaning against it as a long) and then rolled over and failed back below where it came in at $1,761.4, below which I did suggest shorting. This will come in at $1,760.1 (-1 tic per/hour starting at 8:20am). The break below $1,762.1 (+2.5 tics per/hour) also now warns of pressure—although I did not suggest leaning against this as a short, I would at this point as the formation is now more well-formed. This will come in at $1,765.8 (+2.5 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, 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.
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
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