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Gold is Bullish, but Seeing Pressure Within Warned About on the Day 12/29/21


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. 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 (-1.8 tics per/hour) projects this upward $28 minimum, $42 (+) maximum. We have attained $42.1. The decent trade above $1,790.9 projects this upward $38 (+). We have attained $30.7 so far. If we break back below decently, look for decent pressure. This comes in at $1,787.5-7.4 today. I would be aware of possible exhaustion at $1,823.7-4.0, $1,831.2-4.7, and $1,847.7-52.4. We came shy of the lower of these with a $1,821.6 high and rejected of the line just below at $1,821.6 (+1 tic per/hour) and rolled over $25.7. I warned in the Post Market Synopsis that on the day this went out poised for lower trade before (if) resuming higher trade—we are trading $14.5 lower as I write this. A maintained gap lower will warn of lower trade as well.


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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