China is Certainly Unhappy Regarding Recent U.S. Legislation | The Gold Forecast

China is Certainly Unhappy Regarding Recent U.S. Legislation

November 29, 2019 - 5:10pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

P.S. Want to get my Gold Forecast that's returned 1600% since 2010 for free?  Click Here

Members section is now available for free, because 14 days has past since its publication.

Gold Forecast: Proper Action

we are currently flat with no active trades.

Gold Market Forecast

According to sources China is absolutely furious that President Donald Trump signed two bills presented to him today in regards to the protesters in Hong Kong. The key is how deeply will this affect the current negotiations between our two superpowers to resolve and move forward with the phase one, or interim agreement to end the trade war.

That being said if the Chinese take this recent action seriously it could set back negotiations which up to this point have hit many snags and make it impossible to quickly resolve the issues between our two countries. If that happens we could expect the safe haven allure of gold to once again shine and move to higher pricing.

Sentiment Indicator:
Gold -> Bullish
Silver -> Bullish
S&P 500 -> Neutral
Bitcoin -> Neutral
Bitcoin fundamentals by Joseph M. Wagner II:

Bitcoin futures continue to recover today up $180 or 2.3% today and as of 3:30 PM EST are trading at $7,805 on the CME. After hitting a low on Monday of $6,500 Bitcoin has rallied with big gains seen yesterday and today taking prices just shy of what could prove to be strong resistance at around $7,970 the .618% retracement. This area has historically been an obstacle for prices moving in either direction. The one piece of good news for the bulls long-term is how this week’s candle will close well above the 50-week moving average that it had opened beneath at the beginning of the week.