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Wednesday July 21, 2021
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
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On a higher timeframe basis: We held exhaustion above at $64,735-$66,145 with a $65,520 high, which I said could roll this into a correction exceeding $11,000—we have seen $36,720 so far, but this ‘correction’ also has a trending structure to it.
On a lower timeframe basis: We held exhaustion below at $29,075-6,905 with a $28,800 low and bounced $7,850. This is ON HOLD. The decent trade below $34,850 (+40 per/hour) warned of decent pressure. We attained $3,335. The decent trade below $33,935 (+10 per/hour) has brought in $2,420 of additional pressure. Decent trade below $31,070 (-5 per/hour starting at 9:00am) should bring in decent pressure; but if we break below here decently and back above decently, look for decent short covering to come in. Decent trade above $31,670 (-15 per/hour starting at 9:00am) should bring in decent strength; but if we break above here decently and back below decently, look for decent pressure. CLICK HERE FOR FULL ARTICLE.
NOTE: this is just a small portion of the market calls I provide my clients twice daily in the Crude and Energy/Gold/Bitcoin complex. ‘Decent penetrations’ are specific amounts provided to clients daily as well. If you are interested, please feel free to reach out.
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