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 trade above at $1,771.4 warned of decent strength. We saw $14.6 before rolling over. This will come in at $1,776.4 (+1.5 tics per/hour starting at 8:20am).Decent trade back below will negate the short covering bias and take the bearish calls OFF HOLD. Decent trade below $1,764.2 (+.7 of a tic per/hour starting at 8:20am) will project this downward $23 minimum, $45 (+) maximum; but if we break below here decently and back above decently, look for decent strength to come in. Decent trade above $1,796.2 (-.5 of a tic per/hour starting at 8:20am) will project this upward $38 (+).
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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