03/29/2012


Daily Outlook



Greetings!,

 

If it looks like a duck, walks like a duck and quacks, 

it's probably a duck.

 

As you can see from the charts below, it is quite possible that what we witnessed last night and into this morning's trading session is a key reversal from the downtrend and correction that gold and silver were trading in. Although too early to absolutely confirm, the technical evidence weighs heavily towards that conclusion. 

 

With very little new fundamental news to fuel this marketplace in one direction or the other, traders await the conclusion of this quarter. As much as I want to believe that no manipulation takes place within these markets, one has to be keenly aware that fund and money managers, who derive their quarterly income on profits, will on some occasions liquidate profitable positions so that they can mark them on their books. All of that will end by tomorrow.

 

PLEASE NOTE: I am proud and pleased to introduce our new website, which went live last night. Links to some of the new areas can be found to the right of this letter.

 

The subscribers' and members' service area has been thoroughly upgraded and will offer you a seamless and effortless way to gain information about your account. 

 

Also new is our help desk. This system allows you to ask questions and get responses and solutions quickly.

 

Lastly we will be introducing our virtual trading room over the next month. This virtual forum will allow up to 25 subscribers at one time to gather, learn and collaborate. 

 

As always, wishing you good trading,

Executive Producer
The Gold Forecast

gary@thegoldforecast.com 

On Skype Gary.S. Wagner

       Today's video 

  

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PLEASE  NOTE:

Last night we went LIVE with our new web site. 
 
Your membership information has been transferred there.
 
 

Proper Action

 GOLD & SILVER :

 

 Gold: Maintain long in gold @ 1658 and 1642 (1650 avg) stop below 1623

 

Silver:  Maintain  Long @ 32.91 and 32.02 (32.46 avg) Stop below 30.52

 



MARKET FORECAST

Gary S. Wagner

 

Gold & Silver: the charts you see below are both 60 min. Japanese average candles charts. It is quite clear from these charts that both gold and silver made a play last night to trade at lower lows. However, whether it is short covering or bargain-hunting, both gold and silver eloquently and emphatically bounced off those lows. As of this publication, gold and silver are trading quietly, in essence unchanged from this afternoon's close. 

 

Gold Chart

 


  

 SILVER Chart:

 

 

Copyright (c) 2009 - 2012 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.