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Gold is Bullish, but Seeing Some of the Short Term Pressure Warned About 12/20/21


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. We held an exhaustion within this at $1,275.6-$1,269.0 with a $1,274.6 low and rallied $814.6. The break above $1,347.0 projected this upward $80 minimum, $320 (+) maximum. We have attained $744.2. We held another exhaustion within this at $1,416.0-$1,413.7 with a $1,412.1 low and rallied $676.9. On 4/2 we left a bullish reversal below. We have seen $470.7. We have seen $398.2 of the strength warned about above the $1,690.3-$1,691.0 area. 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. The trade below $2,043.6 has brought in $366.2. 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 $1,729.9 (-4 tics per/hour) has brought in $149.6 of strength. The trade above $1,746.0-6.3 has brought in $133.2 of strength. The trade above $1,755.8 (-1.5 tics per/hour) has brought in $123.5 of the strength we were looking for above. These are OFF HOLD. The trade below $1,865.3-5.7 warned of solid pressure, likely for days/weeks. We have seen $112.3. The trade below $1,861.0 (+1 tic per/hour) warned of pressure—we have seen $108.3. The trade below $1,819.0 brought in $66 of pressure. These are ON HOLD. The break above $1,779.5 (-1.8 tics per/hour) projects this upward $28 minimum, $66 (+) maximum. We have attained $36.2. The decent trade above $1,790.9 projects this upward $41 (+). We have attained $24.8 so far. If we break back below decently, look for decent pressure. This will come in at $1,790.1-89.9 today. This went out weak on the day and poised for pressure before (if) resuming higher trade. A maintained gap lower will leave a minor bearish reversal above.


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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