12/27/2011 The Daily Report
Greetings!

In extremely thin trading the precious metals markets are currently trading under pressure. Although the U.S. dollar is showing signs of weakness the precious metals complex is reacting to promising economic news coming out of the United States.
 
As we approach the end of 2011 and welcome 2012, I would look for this current correction in gold to conclude sometime between January and (at the latest) February. This is based upon two technical factors: first, the seasonal patterns we have witnessed over the prior three years. Second, in terms of our current Elliott wave count we are concluding a major fourth wave that contains an intermediate A,B,C wave count.
 
Of note today is an extended rally in the crude oil market. Crude oil slipping back and staying above $100 per barrel could be a significant indicator of inflation throughout next year
 
I will be on the road from now until January 6. As such I will be issuing my recommendations and strategies through e-mails as well as videos. 
 
Wishing you is always good trading,
 

 
Executive Producer
The Gold Forecast 

gary@thegoldforecast.com 

On Skype Gary.S. Wagner 


 

 

       Video Links 

 

Daily Gold 

 Subscribers

Log-in


Silver 
Subscribers 
Log-in

 

 

Proper Action

Gold : long @  1588

 

 

 Silver: long @  29.10

 



MARKET FORECAST

Gary S. Wagner


  

  

Gold: As we have seen gold trade under pressure in thin client markets the chart above will illustrate critical support levels. How this last wave  "C" will conclude I believe will have a lot to do with whether or not gold can hold above 1582. The next level of support would be near the low of 1534, which is right around 1541, the 61% retracement I have discussed. 

 

 

SILVER: Like gold, silver is currently in its final stages of this correction. The critical level that silver has for its current support is 28.32. A move below that would signal a possible test of the recent lows at $26 per ounce. 

 

 

Copyright (c) 2011 Wagner Financial Group 
 
Before deciding to participate in Gold or Silver investments, you should carefully  consider your investment objectives, level of experience and risk appetite. Most importantly with futures activity do not invest money you cannot afford to lose.There is considerable exposure to risk in any futures exchange transaction, including, but not limited to, leverage,and market volatility that may substantially affect the price of  gold and /or silver. Moreover, the leveraged nature of futures trading means that any market movement will have an equally proportional effect on your deposited funds. This may work against you as well as for you.