Gold is Bullish Unless we Fail Below Key Formation we are Testing Now
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Gold is Bullish Unless we Fail Below Key Formation we are Testing Now. 11/16/21
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. The break above $1,347.0 projected this upward $80 minimum, $320 (+) maximum. We have attained $744.2. These are OFF 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 $149.6 of strength. The decent trade above $1,746.0-6.3 has brought in $133.2 of strength. The decent trade above $1,755.8 (-1.5 tics per/hour) has brought in $123.5 of the strength we were looking for above. The decent trade above $1,784.5 (+.7 of a tic per/hour) has brought in $95 of the strength warned about above. The decent trade above $1,807.4-7.9 projects this upward $75 minimum, $103 (+) maximum. We have attained $71.6 so far. The decent trade above $1,821.0-0.9 has brought in $58.5 of higher trade. The decent trade above $1,864.2 (-.8 of a tic per/hour) warns of continued higher trade for $17 minimum, $40 (+) maximum. The solid trade above $1,865.3-5.7 put this above a much larger formation that warns of continued higher trade for days/weeks; but if we break back below solidly, look for solid pressure, putting bull calls ON HOLD, and likely seeing lower trade for days/weeks. 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.