Gold is in bearish correction/trend against move up from $1,792 6/9/22
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On a higher timeframe basis: I cautioned on 8/16/18 the break above $1,179.7-$1,183.7 warned of renewed strength. The break above $1,347.0 projected this upward $80 minimum, $320 (+) maximum. We have attained $744.2. These are ONHOLD. 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 before being put on hold and short covering off the low all the way up to almost take out the highs and rolling over again, being taken off hold.
On a lower timeframe basis: The decent trade above $1,854.2 (-1.2 tics per/hour) projected this upward $24 minimum, $97 (+) maximum. We attained $24.4 before rolling over. This is ON HOLD. This will come in at $1,839.1 (-1.2 tics per/hour starting at 5:00am). I warned we may be in a last stretch of the bullish structure from $1,792.0 upward—being prone to a lower timeframe bearish correction on the way up—we came shy of the exhaustion at $1,881.5-7.1 by $2.9 with a $1,878.6 high and rolled over $40.1.I also warned the break below $1,875.0 would warn of early termination of the structure upward—we have come off $36.5 so far. Decent trade below $1,843.2 (+.8 of a tic per/hour starting at 5:00am) will project this downward $20 minimum, $55 (+) maximum.
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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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