Gold Breaks and Closes Solidly Above $1300.00

May 31, 2019 - 7:22pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action

Yesterday morning we sent out this message -Trade Alert: buy August 2019 gold @ the market. Respectable move today in gold which is currently trading up $6.80 to $7.00, basis the August 2019 contract and fixed at $1293.10.. Place a protective stop below $1273.13 , last weeks low. Our current upside target is to cover the position at $1361. We will discuss is trading detail during today’s video report

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Maintain Long August gold@ $1293.10
Maintain stop @ 1273.13 *
We will raise stop early next Week
Gold Market Forecast
Successful trading is 1 part Science, 1 part Art, And 1 part luck ….. This week we have good Fortune in that we had all three working for us.
 
As you know over this week I have been talking about how my market sentiment in gold had been changing from bearish to bullish.
In fact I receive questions by some of my subscribers that have been with me for a while and know my rationale behind a buy or sell trigger.
The question was the same with all of my subscribers as they wondered what caused me to simply become bullish when there were no technical indicators which confirm that assumption.
I simply try to explain that my change in market sentiment was because of the extremely bullish underlying fundamentals, even though they had not entered into market perception as of that time.
 
On today's video I will detail our Current Trade, Stop and upside targets.
Sentiment Indicator:
Gold -> Bullish
Silver -> Neutral
S&P 500 -> Bearish
Bitcoin -> Neutral
Bitcoin fundamentals by Joseph M. Wagner II:

Will be Added by Saturday 12:00 Noon EDT