The New Normal is Anything but Normal

October 31, 2018 - 5:50pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action
We are currently flat with no active trades.
Sunday,  October 14, we sent out a TRADE ALERT - to buy December gold at the market
Tuesday, October 23 we sent out a trade alert to raise our stop to $1216.13
Today our stop was hit for a losss of $11.67 ($1167 per contract)
 
Gold Market Forecast

For five consecutive days gold had closed above the 100-day moving average, that ended yesterday when gold broke slightly below that average. We hit the first level off resistance on Friday, when on an intra-day high gold traded to a high of $1246. Yesterday the low came in just below the 100-day Moving Average. Today we saw strong follow through selling resulting in a decline of 10 dollars.

Today's video will review our current take on today’s action and where I think pricing will move to.

 

Sentiment Indicator:
Gold -> Neutral
Silver -> Bearish
S&P 500 -> Neutral
Bitcoin -> Bullish