The Rounded Bottom of a Tower Pattern

June 22, 2017 - 5:44pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action

Yesterday I sent out a TRADE ALERT: Buy Gold @ Market . Current August 2017 Gold is at 1252.60. Place Stop Below  1235

Maintain Long Gold Position at 1252.60

Maintain Stop Below 1235

Gold Market Forecast

As you know over the last week and a half we have been looking at the real potential for the current correction to conclude.

As gold prices approached the 200 day moving average, it was critically important to see whether or not that price point would hold or not.

As such over the last few trading days we have seen technical confirmation of support and then in evening trading session here (morning session overseas), we noticed a uptick in gold pricing. That completed two candlestick patterns that typically are found during key reversals in the marketplace. That was the final requirement needed to trigger a by signal.

Today's video report will detail the patterns that unfolded as well as a rationale for our current stop placement. On tomorrow's show as well as next week we will begin to discuss are exit strategy.

Sentiment Indicator: