Gold Is Behaving As Much More Than A Safe Haven | The Gold Forecast

Gold Is Behaving As Much More Than A Safe Haven

January 26, 2016 - 4:44pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action

On Friday we spoke about a potential set-up for a long gold trade, if and when it traded and closed above 1100 dollars per ounce. Well the “if” and “when” occurred yesterday. As such a BUY signal was triggered.

Traders got in yesterday, or early today, @ 1112, and those not acting until the trade alert was sent got in @ 1116 to 1117

Maintain current long gold at 1117 (or 1112)

Maintain stop @ 1097

Gold Market Forecast

Gold has finally awoken from its deep slumber and downside pressure, which was the predominant characteristic for quite some time.

First prices traded and closed above 1100 (yesterday), and today’s effective move above 1110 (former resistance) was the needed trigger to issue a buy signal.

Today’s report will look at the trade in detail as well as our upside target and exit strategy.

Trending Markets: Proper Action

Today's report will detail our current strategy and needed parameters to trigger a buy signal in the S&P500 (E-mini)

Trending Markets Forecast

Even with Chinese equities under dramtic pressure last night (off about 7%), US equities staged a strong rally with triple digit gains in the DJIA

Sentiment Indicator: