Gold is bearish 9/28/21
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
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: We attained $107.9 of the higher trade warned about since the close of 8/10 at $1,729.0 (in the (U) contract). This is ON HOLD. The decent trade below $1,821.4 (+2 tics per/hour) projects this downward $22 minimum, $38 (+) maximum. We have attained $86.1. The decent trade below $1,802.2 (+.8 of a tic per/hour) projects this downward $26 (+).We have attained $67 so far. These are OFF HOLD. I warned we are approaching possible exhaustion areas below at $1,738.6-29.9 and $1,713.8-11.9, either of which have the potential to start this in a new bull structure—we held the upper of these with a $1,737.5 low, bounced, and rolled over to test it again this AM. The decent break below $1,752.8 (+2.6 tics per/hour) now projects this downward, but at the same time we are holding the exhaustion area—so we will have to see which wins out today. I have readjusted the breakdown line above—so a decent break above $1,749.9 (+2 tics per/hour starting at 8:20am) should bring in decent renewed strength. CLICK HERE FOR FULL ARTICLE.
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.
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