Oro Più Alto Sulle Preoccupazioni Per I'Italia

October 2, 2018 - 5:48pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action
We are flat with no active trades in gold or silver.
On Tuesday, September 4, we sent out a Trade Alert: Sell December gold @ the Market.
Today our Stop @ $1202.17 was hit
We went short @ 1199.40 and out @ 1202.17 for a loss of  $2.77 ($277 per contract)
Gold Market Forecast

Although today’s strong upside tick in gold is significant, the closing price does not give us technical confirmation that the long correction in gold is over. While it is true that the end of the current correction in gold could look like the activity we have witnessed over the last few days, we need to see gold close above its 50 day moving average before we would get the technical confirmation that we have entered a short-term bullish market cycle.

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