Turbo Steroid Moves And Other Factors

November 20, 2014 - 6:23pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action

Yesterday we sent out a trade alert recommending a short trade.

We went short at 1180 and the stop at 1195 was hit  for a loss of $15.00

Gold Market Forecast

Gold pricing has been stuck in a defined trading range as it can not either trade much above 1200, or much below 1180. The range appears to be ready to break out, only to simply bounce back from these highs or lows. Long term I still think the highest probability is a return to lower prices.

However, each time the market seems to begin to trade lower so traders seem to buy it up. Who is buying these dips is still an unknown, although I would not be surprised if it was disclosed that it is the Russians continuing to increase there gold holdings in lieu of their own currency.

 

Sentiment Indicator: