Gold is bearish 2/15/22
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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. 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 OFF HOLD.
On a lower timeframe basis: The trade above $1,829.2 (+2.7 tics per/hour) warned of decent strength—we have seen $52.4 so far but this is ON HOLD. The solid trade above $1,859.1 only brought in $22.5 of the strength warned about above before failing back below where the line came in today at $1,858.6--this is a major failure and warns of solid pressure for days/weeks. This line will come in at $1,858.2-8.6 through Wednesday. Solid trade back above will negate the bearish bias and take bull calls OFF HOLD. The only hang up to the downside is we still haven't taken out the bottom of the gap left on Monday--decent failure below here and the $1,844.0-3.4 formation should open up the downside further. 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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