Search

Gold is Bullish Within Consolidation 7/23/21


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. On 4/2 we left a bullish reversal below. We have seen $470.7. 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. The trade below $1,915.7 brought in $238.3 of pressure. The trade below $1,879.3 brought in $129.2 of pressure. On 6/14 we left a large bearish reversal above that warned of pressure for days/weeks—we have seen $115.8 of this so far. These are ON HOLD.


On a lower timeframe basis: The trade above $1,688.2 brought in $231 of strength. This is ON HOLD. We held exhaustion on a correction within the move above with a $1,835.0 high and rolled over $45.9. I said in the AM the overnight price action was weak and warned of lower trade--we came off over $11 before breaking back above $1,798.1-7.9, which now warns of decent short covering to come in. Decent trade above $1,814.8 (-1.2 tics per/hour starting at 12:20am) should bring in decent strength; but if we break above here decently and back below decently, look for decent pressure to come in.


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.

Commodities trading involves a substantial degree of risk and may not be suitable for all investors. Michael Moor does not guarantee profits and is not responsible for any trading losses of subscribers. No representation is made, stated or implied, that any investor will achieve results, profits, or losses, even remotely similar to hypothetical results. Past performance is by no means indicative of future results. Information provided in this newsletter is not to be deemed as an offer or solicitation with respect to the sale of purchase of any securities or commodities. Any copy, reprint, broadcast, or distribution of this report of any kind is strictly prohibited without the express written consent of Michael Moor. Michael Moor may execute transactions in a proprietary trading account that may be consistent or inconsistent with the contents of the newsletter. The content, statements, and viewpoints expressed in this publication are those of Michael Moor solely in his individual capacity and are not attributable to any person or entity other than Michael Moor