Dollar Strength and Solid Risk-On Market Sentiment Weigh on Gold Prices

February 5, 2019 - 5:36pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action
We are currently Flat with no active trades. We are looking for the proper place to re-enter the market from the long side.
On Sunday, January 27,  we sent out a trade alert to buy April Gold
Friday we sent out a trade alert to raise stop to $1317.00
We took $1000 profit per contract when our stop was hit on Sunday
 
 
Gold Market Forecast

Late last week we saw signs of a potential conclusion the the rally which began at $1200.00. We raised our stop to lock in profits. On today's report we will continue to look a proper placement for our next trade. To determine our next entry level is the key.

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