Search

Gold is in a Bearish Correction or Trend 6/18/21




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 of this. 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. The decent trade below $1,879.3 projects this downward $24 minimum, $76 (+) maximum. We attained $111.4. I warned we will likely have to contend with possible exhaustion areas on the way down at $1,804.0-767.2 and $1,740.4-29.1—we held the upper of these with a $1,767.9 low and bounced $30 before rolling over to test it again.

On a lower timeframe basis: The decent trade below $1,908.5 brought in $140.6 of pressure. The break below $1,897.6-6.5 (-1 tic per/hour) brought in $128.4 of the pressure warned about. The decent failure below $1,806.1 (-.5 of a tic per/hour) has brought in $38.2 of the pressure warned about below before holding the exhaustion at $1,772.6-67.2.


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