U.S stocks close at record highs, which helped move gold prices lower | The Gold Forecast

U.S stocks close at record highs, which helped move gold prices lower

November 25, 2019 - 5:34pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

P.S. Want to get my Gold Forecast that's returned 1600% since 2010 for free?  Click Here

Members section is now available for free, because 14 days has past since its publication.

Gold Forecast: Proper Action
Maintain your current long position @ $1464 to $1467
Maintain your stop @ $1453.13
Gold Market Forecast

A strong us stock market has taken the steam out of both gold and silver today, With a shorten holiday week, we can except lighter volume and increased volatility.

Sentiment Indicator:
Gold -> Neutral
Silver -> Neutral
S&P 500 -> Bullish
Bitcoin -> Bearish
Bitcoin fundamentals by Joseph M. Wagner II:

Bitcoin bulls are feeling the pain that I have experienced over the past two weeks trying to heal from a shattered radial bone in my left arm and the fusion of the metal plate surgically attached to both ends of the damaged area.

The one key difference is that although this is the first day, I have been able to get out of bed and write an article, the BTC bulls are showing no signs that their pain is diminished and in fact they continue to be suffering more each day.

The most excruciating chart damage was seen last Thursday on the 21st of Nov. when Bitcoin futures on the CME broke hard (like my arm exactly one month prior) below two key levels of support, the .618% Fibonacci retracement at around $8,000 as well as the 200-day moving average which had acted as solid support and the base of a short term pivot around Oct. 23rd.

Before last Thursday’s decline there was technical evidence pointing to a possible bullish reversal at the .618% retracement level. But since failing to hold this level we have had lower highs and lower lows with today’s low being a mere $200 away from the next support level the .78% retracement.