Gold is bearish 10/18/21
On a higher timeframe basis: I cautioned on 8/16/18 the breakabove $1,179.7-$1,183.7 warned of renewed strength. We have seen $905.5. This is ON HOLD. We heldmajor exhaustion at $2,071.6-93.2 with a $2,089.2 high and rolled over $412.8into the macro bearish correction warned about. This is ON HOLD.
On a lower timeframe basis: The decent break above $1,729.9 (-4tics per/hour) has brought in $72 of renewed strength. The decent trade above$1,746.0-6.3 has brought in $55.6 of strength. The decent trade above $1,755.8(-1.5 tics per/hour) has brought in $46.1 of the strength we are looking forabove. These are ON HOLD. I cautioned we had a level of possiblecorrective exhaustion to contend with above at $1,802.5-we held this with a$1,801.9 high and rolled over. I warned the decent trade below $1,793.4 (+1 ticper/hour) should bring in decent pressure (likely for $30 (+))--we haveattained $32.6 so far. Decent trade below $1,768.9 (+1.5 tics per/hour startingat 8:20am) should bring in additional pressure; but if we break below backabove decently, look for decent short covering. CLICK HEREFOR FULL ARTICLE.
NOTE:this is just a small portion of the market calls I provide my clientstwice daily in the Gold, Bitcoin, and Energy complex. 'Decent penetrations' arespecific amounts and provided to clients daily as well. If you are interested,please feel free to reach out.
Commodities trading involves a substantialdegree of risk and may not be suitable for all investors. Michael Moor does notguarantee profits and is not responsible for any trading losses of subscribers.No representation is made, stated or implied, that any investor will achieveresults, profits, or losses, even remotely similar to hypothetical results.Past performance is by no means indicative of future results. Informationprovided in this newsletter is not to be deemed as an offer or solicitationwith respect to the sale of purchase of any securities or commodities. Anycopy, reprint, broadcast, or distribution of this report of any kind isstrictly prohibited without the express written consent of Michael Moor.Michael Moor may execute transactions in a proprietary trading account that maybe consistent or inconsistent with the contents of the newsletter. The content,statements, and viewpoints expressed in this publication are those of MichaelMoor solely in his individual capacity and are not attributable to any personor entity other than Michael Moor
By Moor AnalyticsContributing tokitco.com
Follow @KitcoNewsNOW
mike@moor-analytics.comwww.moor-analytics.com