Slip Slidin' Away | The Gold Forecast

Slip Slidin' Away

April 11, 2019 - 5:57pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action
On Monday, April 8th,  we sent out a trade alert.
Trade Alert: Buy June gold at the market (current 1301.50 - $1301 80)
Place Stop at $1287.13.
Maintain long June gold @ $1301.65 and stop @ $1287.13
Gold Market Forecast

Today’s dramatic price decline in the precious metals across the board I believe was extremely exaggerated and the declines were excessive. Nonetheless the facts are the facts and after gold reached an intraday high yesterday of $1314.90, it ran into extreme resistance. My personal belief is that the opportunity presented itself for traders to take short-term profits when least expected, and believe that we should see this event as an isolated “one and done” selloff.

That being said let’s see what happens on Friday as well as the start of next week.

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