Gold left short term bullish reversal below yesterday within the bearish correction/trend
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On a higher timeframe basis: I cautioned on 8/16/18 the break back 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 that warned of continued strength. We have seen $470.7. All of the above macro bullish formations are ON HOLD. I noted we had a higher timeframe possible exhaustion to contend with that came in at $2,071.6-93.2 that has the potential to bring in a bearish correction—we held this at $2,089.2 and have rolled over $322 into that correction. The trade back below $2,043.6 has brought in $276.5 of the decent pressure we are looking for. We held exhaustion above at $1,999.7-$2,006.5 with a $2,001.2 high and rolled over $234. The decent trade below $1,965.7 (+3 tics per/hour) warned of decent pressure. We have seen $198.5. The decent trade below $1,863.9 has brought in $96.7 of the pressure. We left a significant bearish reversal above 11/24 that warned of continued pressure for days/weeks. We have seen $43.7 so far. These are now ON HOLD now as well as we left a short-term bullish reversal below mentioned below. Solid trade above $1,834.4 will further negate the significant bearish formation above and warn of continued strength to come in, likely for days/weeks.
On a lower timeframe basis: Yesterday we left a short-term bullish reversal below. We have seen $16.7 so far. Decent trade back below $1,787.7 will negate this and take the bear calls OFF HOLD. We are called $10.7 higher as of 4:54am EST…(see full article https://www.moor-analytics.com/post-1/gold-left-short-term-bullish-reversal-below-yesterday-within-the-bearish-correction-trend-12-2-20)
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.
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