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They Keep Trying, But It's Still a Downtrend 9/14/21

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Here's the 2 hour bar look. 

Strange. We're not used to seeing persistent downtrends that last for 8 days. Must have something to do with Sell Rosh Hashanah, Buy Yom Kippur. 

And lest we forget, it's that time of the month. Fed MBS settlement week. The last 2 days has that reverse headandshouldery look. 

tvc_d7631bdd0a04244bc1c32ca211476906.png

Here's the 1 hour bars. Shows we're in a 5 day cycle up phase. Weak for sure, but could strengthen. The test will be at 4480. Conversely, the sport test would be at 4463. 

tvc_079d480ae12b6b168b332c17b15045cd.png

I have a preliminary 5 day cycle projection of 4500 if they break the downtrend. That's also where the next resistance lines are. 

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Meanwhile, for your educational reading:

Nothing Has Happened Yet

Useless Banking Indicators Except for One Giant Red Flag

Gold’s Setup Has All Kinds of Potential

Take the Threat of this Triple Whammy Seriously Now

 
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