The Beachhead, A Scouting Party, and Gold Part II

November 9, 2017 - 5:35pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action

This morning we issued a Trade Alert: Buy Gold @ Market. Current 1287.5 +3.8. Stop below 1272

Maintain long gold @ 1287.5

Maintain stop below 1272

Gold Market Forecast

After identifying a double bottom as early as 2 weeks ago, gold pricing remained muted trading in a twenty-dollar range. On Monday, for the first time since the double bottom we had prices move above resistance at 1282.However Tuesday prices fell back below resistance. Which brings us to the last two trading days, in which gold closed above that level. This was the technical trigger needed for our current trade.

Sentiment Indicator: