Gold price is choppy and condolidating

Gold price is choppy and condolidating

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On a macro basis: I cautioned on 8/16/18 the break back above $1,179.7-$1,183.7 warned of renewed strength.  We have seen $605.1 of this. The break above $1,347.0 projects this upward $80 minimum, $320 (+) maximum.  We have attained $441.3 of this so far.  We are likely in the later stage of the bull structure from $1,046.8 upward.  These are ON HOLD

On a shorter-term basis:  On 4/2 we left a bullish reversal below that warned of continued strength.  We have seen $167.6 so far.  On the correction against the move upward from $1,453.0 we held exhaustion at $1,675.4-$1,660.5 with a $1,666.2 low and bounced $98.  These are now ON HOLD.  We held the last possible exhaustion area (if this is a corrective move against the move down from $1,788.8) at $1,762.6 with a $1,764.2 high and have rolled over $60.1 before short covering off the low. 

The trade at $1,704.8 failed to bring in a run back down toward $1,665 (-), and was violated with trade at $1,730.0.  The market is in choppy consolidation here looking for a confirming break in either direction.  Decent trade above 17437 (-1.5 tics per/hour starting at 8:20am) will warn of continued strength, likely for $45 (++); but if we break above here decently and back below decently, look for decent renewed pressure to come in.  Decent trade below 17225 (+3 tics per/hour starting at 8:20am) will warn of renewed pressure.  Today has a good likelihood of being a range expansion day. 

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