Recent Report:
Daily Report: 16 hours 14 min ago
Ever since gold broke below $1,300, exactly a week ago today, pricing has remained in an extremely narrow and defined trading range. The relationship between the daily open and closing price has diminished to just a couple of dollars each day. Although prices have dipped below a critical support level (0.618 % retracement) at $1,288, gold has effectively closed above that price point on all occasions. If this lows hold, it will mark the fourth instance of gold trading to a higher low since the end of 2015. At that time, gold hit its lowest price point and concluded the multiyear correction... Read more
The Bitcoin Report is now LIVE!
Due to high demand from our subscribers, we added Bitcoin to our Daily Report. Our Members will now receive daily commentary and trade recommendations for Bitcoin futures.
Bitcoin is the first cryptocurrency to trade on the CBOE and CME, allowing you to profit from long and short positions. Bitcoin has had amazing volatile price swings, creating major trading opportunities. Due to its revolutionary blockchain technology and finite supply it could become the major player maintaining it's dominant position as thee 'cryptocurrency'.
Trading System
The system that we use for trade recommendations is a hybrid method in which we combine fundamental data with three primary technical studies.
We look at fundamental data for the "big" picture, which we weave into our technical studies. These studies will help identify key pivot points. They will also provide us with the timing for entrance and exits of trades, as well as stop placements.
The three technical methods we combine are Japanese Candlesticks, Elliot wave theory and Fibonacci retracement.
The Gold Forecast
The Gold Forecast was created for investors and traders of all levels. Each day we publish a five to ten minute video containing concise, easily-digestible visual and verbal information, conveying precision technical market insights. All blended with the day’s most important fundamental news.
Trending Markets
Trending markets is an ancillary module for use with your Gold Forecast subscription.
It covers additional markets such as the S&P 500, US dollar and crude oil. The primary purpose for this service is to provide us with quality markets to trade when the precious metals markets are range bound, or when these markets present trading opportunities.
Endorsements of Confidence
Gary is one of the most skilled technicians I have met during my time covering the markets. Dedicated, reputable and skilled…
Daniela Cambone
Editor-in-Chief, Kitco News
About The Gold Forecast
Wagner Financial Group is the producer of the Gold Forecast.
Based in Honolulu, Hawaii, our company is comprised of a dedicated group of trading, technology, and finance professionals who apply their experience, teamwork and innovation towards a common goal - helping traders succeed.
Previous Reports
Gold closed fractionally higher after trading to the lowest price this year. Trading $10 lower and under pressure today, gold reached an intraday low of $1,281.20. The last time gold traded to $1,281 was December 22 of last year. The key distinction was that, during December 2017, gold had begun a dynamic rally after hitting a low at $1,238. Today’s dynamic price reversal occurred as a direct result of extreme dollar strength that weakened tremendously after coming within ticks of 94 on the dollar index. The dollar closed fractionally lower on the day at 9,347, which is a net decline of about seven... Read more
Gold has been attempting to form a baseline level of support over the last three trading days and finished fractionally higher in trading today. Gold Comex futures finished up approximately $2.50 today and closed at $1,291.90 (most active June contract). Gold closed dramatically lower this week after losing $28 in trading on Tuesday. Tuesday’s selloff was significant in that it broke below the psychological support level of $1,300, which is also where the 200-day moving average is fixed. In fact, damage from the selloff on Tuesday resulted in the largest weekly decline seen in gold over the last... Read more
It’s not just about the Benjamins, it’s also about higher bond yields today. Trading to its lowest price this year, gold continues to struggle while a strengthening U.S. dollar, coupled with higher yields, continues to create fierce headwinds. Up until Tuesday’s 28-dollar drop, the lowest price for gold this year was $1,302. On Tuesday, gold broke below $1,300 and the 200-day moving average. Even though the last five trading days have all contained a lower low, there are signs that the intense selling pressure has started to weaken. Diminished selling pressure is evident in the narrow range... Read more
For the first time this year, gold has broken below the key psychological level of $1,300 per ounce. This year began already deeply entrenched in a dynamic rally which took gold pricing from $1,238 per ounce to $1,365 by the end of January. From that point forward, gold staged two rallies attempting to break the previous highs and resistance at $1,365, as well as two corrections challenging the lows and support at $1,300. Both the rallies as well as the corrections were unable to breach the defined and narrow trading range gold pricing has been trapped in at between $1,300 and $1,370. After trading... Read more