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Gold is Bearish Within Consolidation 10/27/21



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. This is 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 decent break above $1,729.9 (-4 tics per/hour) has brought in $85.6 of strength. This is ON HOLD. Friday we basically held exhaustion above at $1,810.2-3.1 with a $1,815.5 high and rolled over. The decent trade below $1,794.4 (+2.3 tics per/hour) put this below a steep pattern that warns of pressure for $17(+); but if we break back above decently, look for decent short covering. This will come in at $1,799.7 (+2.3 tics per/hour starting at 8:20am).


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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