Gold is bullish 1/11/22
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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: The break below $1,795.3-4.1 (+.4 of a tic per/hour) only brought in $12.8 of pressure before short covering off the low and breaking back above where it came in at $1,796.3-7.8, which now warns of renewed strength. This will come in at $1,798.1-6.5 (+.4 of a tic per/hour starting at 5:00am). Decent trade below $1,783.7-3.5 is needed to open up the downside (which would likely precipitate a run toward $1,753.0 (-) . A maintained gap higher will leave a minor bullish reversal below, but this will be more effective if/when we take out $1,815.1. 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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