A Strong Week Stumbles A Bit At The Hands Of Profit Takers | The Gold Forecast

A Strong Week Stumbles A Bit At The Hands Of Profit Takers

October 9, 2015 - 5:08pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action

Thursday morning we sent out a special trade alert in which we recommended initiating long positions in both gold and palladium.

Maintain current long gold position at 1144.00 - maintain current stop just below 1121.00

Maintain current long palladium position at 706.00 - maintain current stop just below 681.00

Gold Market Forecast

Today’s video report will detail our current trades in both gold and palladium. We will look in detail at our current stop placement and discuss our rationale for placing our stops at their specific price points.

More importantly we will look at our exit strategy and detail upside targets that we believe are achievable in both gold and palladium. It is my current sense that we have hit a defined bottom (1071 intraday), and are currently building a base in which prices in the precious metals complex will build upon.

Trending Markets: Proper Action

On Tuesday, October 6 we recommended initiating long positions in both the Standard & Poor’s 500 and crude oil. Today we sent out a special trade alert recommending that any subscribers that had not yet initiated that trade should do so at this point.

S&P Trade

Traders taking Tuesday’s call initiated buys in the S&P at 1968, with an initial stop at 1940. Traders taking today’s call initiated long positions at 1986.

Regardless of entry price, all stop should have been raised to just below 1986.

Crude Trade

Traders initiating long positions in crude oil on Tuesday entered the market at 48.47 per barrel placing protective stops at 45.63. Traders taking that call today initiated a long position roughly at 49.14

Regardless of entry price all stops should be just below $47 per barrel

Trending Markets Forecast

Today’s video report will detail our current market forecast as well as upside targets for both our long crude oil and long Standard & Poor’s 500 trades.

We will also detail the thought process behind our stop placement price

Sentiment Indicator: