The Running of the Bulls

July 7, 2017 - 6:59pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action

We will enter the weekend with no active trades after being stopped out today.

We went long August Contract at 1225, and stops were hit at 1209 for a loss of $16.00 or $1600 per contract
 
Gold Market Forecast

Bearish sentiment which was the overall market characteristic drove gold and silver prices dramatically lower on the week. Both gold and silver close below a critical support line, and as such could indicate major technical chart damage. Depending on how the precious metals trade at the beginning of next week will determine if both gold and silver pricing are able to move back above that support line, or if more price decline is in the cards.

Sentiment Indicator: