Pop! Goes the Dollar | The Gold Forecast

Pop! Goes the Dollar

January 5, 2017 - 5:22pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action

This morning we sent out a special trading alert recommending the initiation of long positions in both gold and silver.

Maintain current long gold at 1180. Maintain current stop under 1140.

Maintain current long silver at 16.65. Maintain current stop under 1592.

Gold Market Forecast

Over the last few weeks we have been looking for a potential bottom and conclusion to the correction in precious metals pricing which began in June of last year and accelerated in November.

Our assumption was that we should find support in gold at roughly 1123 which is a 61.8 % retracement of last year’s range.

We now believe that recent activity over the last two weeks has confirmed that the low achieved at 1123 was the bottom, and most importantly the conclusion of that correction.

Today’s video report will detail our current trade recommendation as well as stop placement and exit strategy.

Trending Markets Forecast

Editor’s note: Over the next week we will be streamlining our delivery of the trending markets module and will incorporate it into the daily gold forecast video for those that have signed up for the additional service. 

Sentiment Indicator: