Gold is in a Macro Bearish Correction/Trend, but Holding Exhaustion Below 7/18/22 kitconews gold silver finance metals economics investing mining
On a higher timeframe basis: I cautioned on 8/16/18 the break above $1,179.7-$1,183.7 warned of renewed strength. The break above $1,347.0 projected this upward $80 minimum, $320 maximum. We have attained $744.2. These are ONHOLD. We held major exhaustion at $2,071.6-93.2 with a $2,089.2 high and rolled over $412.
On a lower timeframe basis: I warned this may be in the last structural stretch from the $2,085.2 down. I would be wary of extension exhaustion levels which could trigger a bullish correction/trend against the move down--$1,724.7-00.9 , $1,647.3-$1,640.1, and lower. We have violated the upper of these by $5.9 with a $1,695.0 low, but this could basically be still considered as holding given the magnitude of the move/structure.
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.Follow @KitcoNewsNOW [email protected] www.moor-analytics.com
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