On a higher timeframe basis: This is in an overall bull market/trend. We came 200 shy of exhaustion at 61425-50 with a 61225 high and rolled over 10865 into a bearish correction against the move up from 4210, but this is now complete. The decent trade above 60000-50 has brought in 1895 of the strength warned about above; but if we break back below decently, look for decent pressure to come in. I would be aware of a possible significant exhaustion area above at 64735-66145—if we hold this, we could see this roll over into another correction.
On a lower timeframe basis: The decent break above 54775 (+20 per/hour) brought in 7170 of the strength we were looking for above. The decent trade above 55370 (-35 per/hour) also projects this upward 5000(+). We have attained 6575 so far. The decent trade above 56890 (-20 per/hour) projects this upward 4000 minimum, 11250 (+) maximum. We have attained 5055 so far. The trade back above 57450-57155 brought in 4495 of strength so far. CLICK HERE FOR FULL ARTICLE.
NOTE: this is just a small portion of the market calls I provide my clients twice daily in the Gold 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.
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