Gold Performance Lackluster in Light of Geopolitical Hotspots

April 10, 2017 - 5:42pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action
We pulled profits this morning when our stop was hit on our long gold trade. All stops were hot at 1251
For those trader that were in from 1237- in at 1237 out at 1251 for a profit of $14.00 or $1400 per contract.
For those trader that were in from 1250 - in at 1250 out at 1251 for a profit of $ 1.00 plus $10.00 (from last trade) for a total of $11 or $1100 per contract.
Gold Market Forecast

Based upon our current technical informationIt seems most likely that gold is currently in a period of consolidation, rather than atop.

However until the point in which gold can effectively trade above and close above 1260 our current level of resistance we will most likely remain sideline awaiting our next signal.

Sentiment Indicator: