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Gold is bearish 7/8/22

Commentaries & Views

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: I warned this may be in the last structural stretch from the $2,085.2 down. I would be wary of extension exhaustion levels which could trigger a bullish correction/trend against the move down--$1,736.1-24.7, $1,724.7, $1,716.2, $1,701.3-0.9, and lower. We are currently holding the upper of these. If one of these holds and we rally into a bullish correction, it should exceed $109 from the low. Trade back above $1,780.6-5.0 should bring in strength. Today has a good likelihood of seeing range expansion. LINK TO ANALYSIS ON WEBSITE. 

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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