Gold Shows Extreme Resilience in Light of a Strong Jobs Report | The Gold Forecast

Gold Shows Extreme Resilience in Light of a Strong Jobs Report

February 1, 2019 - 5:46pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action
On Sunday, January 27,  we sent out a trade alert to buy April Gold
Thursday morning we sent out a trade alert to raise stop
Maintain long gold at  $1307. Maintain stop at $1310.13
 
Gold Market Forecast
Today's lower pricing follows two days that have both been a "doji candle". According to Wikipedia " The doji is a commonly found candle in a candlestick chart of financially traded assets. It is characterized by being small in length—meaning a small trading range—with an opening and closing price that are virtually equal.
 
The doji represents indecision in the market. A doji is not as significant if the market is not clearly trending, as non-trending markets are inherently indicative of indecision. If the doji forms in an uptrend or downtrend, this is normally seen as significant, as it is a signal that the buyers are losing conviction when formed in an uptrend and a signal that sellers are losing conviction if seen in a downtrend."
 
Therefore: we could see lower gold next week
Sentiment Indicator:
Gold -> Neutral
Silver -> Neutral
S&P 500 -> Neutral
Bitcoin -> Bearish