Can Gold Prices Hold the Recently Achieved Lows | The Gold Forecast

Can Gold Prices Hold the Recently Achieved Lows

July 5, 2017 - 5:35pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action
We were stopped out of our last trade on Monday when prices droped over $20.00 
We went Long Gold Position at 1252.60, Stops were hit at 1232 for a loss of $20.00 or $2000 per contract
Today we sent out a trade Alert to buy gold at market

Either August Contract long at 1225, with Stop below lows at 1215 (1209)

or  Buy October 2017 Current price 1229, with Stop below lows at 1220 (1214)

Gold Market Forecast

On a technical basis it is the double bottom which was achieved this Monday that most interest me in terms of a key level of support holding. Based upon my current analysis I believe we have a substantial bottom at this price point and a substantial opportunity along with that.

Over the remainder of the week I will talk about rationale behind placement of our current stop and most importantly are exit strategy.

Sentiment Indicator: