Gold is bearish 1/7/22
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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. The break above $1,347.0 projected this upward $80 minimum, $320 (+) maximum. We have attained $744.2. These are 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 held exhaustion at $1,830.4-1.5 with a $1,833.0 high and have rolled over $47.6.The break below $1,795.3-4.1 (+.4 of a tic per/hour) warns of decent pressure, but decent trade below $1,784.6-4.4 should open up the downside further to additional pressure. Decent trade back above $1,795.1-6.5 (+.4 of a tic per/hour starting at 10:20am) should bring in decent renewed strength and will put bear calls ON HOLD. I warned in the Post Market Synopsis that all the above said, on the day this warned of short covering before (if) resuming lower trade—we have seen $4.4 of this. 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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