Moor Analytics Gold Report

On days like today, Mike puts out an interim technical report to subscribers. This is shared with his permission.- VBL

 Gold Failed Bull Pattern Returning Pressure 11/9/20 

On a higher timeframe basis: [EDIT=Major formations-VBL] I cautioned on 8/16/18 the break back above $1,179.7-$1,183.7 warned of renewed strength.  We have seen $905.5 of this.  The break above $1,347.0 projected this upward $80 minimum, $320 (+) maximum.  We have attained $744.2 of this.  The above macro bullish formations are ON HOLD. I noted we had a higher timeframe possible exhaustion to contend with that came in at $2,071.6-93.2 that has the potential to bring in a bearish correction—we held this at $2,089.2 and have rolled over $238.2.  This is now OFF HOLD.  The decent trade above $1,912.5-3.0 (-.8 of a tic per/hour) brought in $50.6 of the $20 minimum, $112 (+) maximum we were looking for above before failing where it came in this AM at $1,908.9-8.4.  We have attained $57.2 of the decent pressure warned about below.  I would caution there are areas of possible exhaustion to contend with on the way down at $1,833.6-809.6 (intermediate), 17143-6767 (macro), 16309-5985 (macro), and lower.  

On a lower timeframe basis:  We held exhaustion above at $1,999.7-$2,006.5 with a $2,001.2 high and rolled over $150.2.  This is OFF HOLD.  We are trading $99.6 lower as I write this at 11:14am.  Decent trade back above $1,867.9-8.1 should bring in decent short covering. ‘Decent’ today is $10.4

'Decent' is requantified daily

This is a portion of the market calls Mike provides his clients twice daily in the Gold and Energy complex.and provided to clients daily as well. If you are interested, please feel free to reach out directly at Moor-Analytics.com or reach out to Vince on twitter