Will the Last Brit to leave the EU please turn off the lights! | The Gold Forecast

Will the Last Brit to leave the EU please turn off the lights!

June 24, 2016 - 6:38pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action

We will enter the weekend flat with no active trades. This of course following a series of trades we accomplished yesterday.

We sent out to special trade alerts initiating long gold positions first at 1268 and then and another long position at 1300.

We have covered both long gold positions @ 1340 for a  +$72  and + $40 profit  for a total of 112.00 or 11,200 on two contracts


Gold Market Forecast

We have been effectively looking for gold to return to its bullish rally mode ever since we received technical confirmation early this year that the price point of 1040 would be the low that gold prices would fall to.

Based upon our research our models alluded to gold prices moving into the $1400 range at some point this year. During this year we have recommended a total of approximately 12 trades with the net result of well over 300% returns.

But it is going to get much better than that. If our models continue to offer the type of insight we have seen so far this year, and gold moves into the $1400 range, we could see resulting profits to exceed our best years since 2009 when we began to gold forecast service.

Today's video will detail what we are looking for in terms of gold pricing over the next couple of weeks along with our initial upside targets that we will act upon the first part of next week.

Trending Markets Forecast

If you recall from last week we stated that should the referendum vote in Britain pass, and citizens effectively vote to leave the European Union, we would see a dramatic drop in US equities which would result with a minimum of a 500 point drop immediately following the vote count. Our models were incorrect in that rather than a 500 point drop, the Dow Jones industrial average closed effectively 600 points lower on the day.

This dynamic drop was very predictable if in fact the referendum vote would pass. We also stated that that could present some excellent buying opportunities as the major reaction could well be in overreaction to the immediate effect that this referendum presents. That is not to say that over the next year or two as steps are taken to actually exit the European Union that we will not see dramatic effects on global economies.

However that being said the immediate reaction could easily be a overreaction and present us with exceptional trading opportunities next week

Sentiment Indicator: