Quantitative Easing; If It Looks Like a Duck, Swims Like A Duck, and Quacks Like a Duck… | The Gold Forecast

Quantitative Easing; If It Looks Like a Duck, Swims Like A Duck, and Quacks Like a Duck…

October 8, 2019 - 7:05pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action
On October 2nd, we sent out a TRADE ALERT: Trade Alert: Buy December Gold at the market. Currently gold is at $1506 – 1507 after todays gains of almost $18,00. When it weakened it found support above the 50-day moving Average. Therefore: Buy gold @ the market (1506 -07) and place a protective stop below today’s low @ 1478.13
Maintain Long gold @ $1506 $1506.50. Maintain Stop @ $1478.13
Gold Market Forecast
Last Week we initiated a long position in December gold at $1506. This buy signal was triggered by a few variables that simultaneously unfolded.
First gold broke above the key psychological level at $1500. Second gold prices moved above the 50-day moving average which was at $1503. Lastly, we identified a simple today bullish reversal candlestick pattern known as a Bullish Harami which occurred on Wednesday of this week.
On today’s video report we will begin to detail the potential effects on the upcoming trade talks.
Sentiment Indicator:
Gold -> Bullish
Silver -> Bullish
S&P 500 -> Bearish
Bitcoin -> Bearish
Bitcoin fundamentals by Joseph M. Wagner II:

Bitcoin futures on the Chicago Mercantile Exchange are attempting a recovery in the face of great Bearish technical data. Last Friday a Bullish Harami was formed on a daily candlestick chart. This pattern was even more important to BTC’s mid-term outlook because of where it came in at, the .618% Fibonacci retracement level of $7,974. Although yesterday’s green candle counts as conformation the fact that it dipped below the critical retracement level is as ominous as the looming death cross