Palladium Futures Plummet

March 27, 2019 - 6:12pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action

Friday morning, March 8th, we issued a trade alert to buy June 2019 gold (GC M19)

Maintain long June 2019 gold at $1305 

Maintain Stop at $1297.13 **

A hard break below the 50-day MA would trigger us taking the stop to the market.

Gold Market Forecast
For the last four consecutive weeks (including this week) gold has made both a higher high, and a higher low.
 
If this week closes higher this would be the fourth consecutive week of higher closes also. However, yesterday's  $8.00 decline, when added to today's $6.50 drop puts the rally in question. 
There was some technical chart damaged caused, but not major, which would occur if prices break below $1315-1316, the fifty day moving.
Sentiment Indicator:
Gold -> Neutral
Silver -> Neutral
S&P 500 -> Neutral
Bitcoin -> Bearish