Gold Within Striking Distance of $1400 | The Gold Forecast

Gold Within Striking Distance of $1400

June 20, 2019 - 5:56pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action
Maintain Long gold @ $1339.10 (current $1393)
Today we sent out a TRADE ALERT Move stop from $1341.13 to $137913
Gold Market Forecast

Although today's price spike was credited to a future set of rate cuts by the FED, it was the action of Iran that could continue to support higher gold prices.

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

Bitcoin futures basis the most active August contract is continuing to showing major resistance at the $9,500 level, the ceiling for now is still intact and at least for the remainder of the trading week will likely consolidate between $8,500 and $9,500 before popping above resistance and take out $10,000 which I predict will occur over the weekend. It seems as though the rest of the crypto-community as a whole feel just as I do regarding the release of Libra, (Zuckerberg’s newly launched digital currency) and that is, Facebook never believed in crypto and doesn’t belong in crypto.

The release of Libra (LBA)  earlier this week was met with lackluster enthusiasm with volume for the day just above $500,000 a far cry from what many (myself not included) believed would happen for this cryptocurrency that is run on the Ethereum Blockchain. One thing I can ascertain with some certainty is how its launch has provided tailwinds to Bitcoin’s current rally it will be interesting to see what comes out of this new ICO in the coming months. Regardless BTC has more upside potential and LBA weather it tanks or soars will continue to boost Bitcoin’s price.