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

This is a syndicated repost published with the permission of Stool Pigeons Wire at Capitalstool.com. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

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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