Contributed Commentaries
Gold is bullish, but seeing pressure within warned about overnight 1/21/22
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. 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. We held exhaustion above with a $2,001.2 high and rolled over $323.8. The trade below $1,915.7 brought in $238.3 of pressure. These are ON HOLD.
On a lower timeframe basis: The break above $1,779.5 has brought in $69. The trade above $1,790.9 projected this upward $38 (+). We have attained $57.6. The $4.4 break above $1,811.8 warned of strength—we have seen $36.7. The trade above $1,815.2 (-2 tics per/hour) warned of strength—we have seen $33.3 so far. The trade above $1,826.9-7.0 also warned of additional strength—we have seen $21.5 so far. If we break back below decently, look for decent pressure—this will come in at $1,826.5-6.3 today. I NOTED: we held the $1,848.7 (+1 tic per/hour) line in the midst of the $1,847.0-52.4 exhaustion with a $1,848.5 high and have rolled over $20.3. I also warned that on the day this warns of pressure before (if) resuming higher trade—we have seen $14.2. I also warned today has a good likelihood of seeing range expansion—we have already exceeded yesterday’s range on GLOBEX. CLICK HERE FOR FULL BLOG.
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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