Some Changes Already in 2014 | The Gold Forecast

Some Changes Already in 2014

January 6, 2014 - 4:17pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action

We issued a trade recommendation this morning:to enter longs in both gold and silver

Long Gold @ 1242

Long silver @ 20.16

Stops @: gold 1227 silver  19.50

 

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Gold Market Forecast

There can be absolutely no doubt that gold traders will remember 2013 is the year of the bear. The question that remains is whether or not we would see a continuation of that downside pressure on the onset of 2014. As of yet nothing could be further from the truth as we have seen gold trade off its intraday low of 1186 to flourish to 1249 is an intraday high before backing off is trading closed in New York today.

We see real resistance at 1244, and currently it seems as though the market is fighting to take out that price point. Today’s video will highlight both minor and intermediate levels of resistance in both gold and silver and outline some of our objectives for current trade.

Sentiment Indicator: