Gold Sees Knee-jerk Move; What Next? - Gary Wagner

The gold market saw additional selling pressure in late-afternoon trading Wednesday, following the early release of former FBI director James Comey’s testimony scheduled for Thursday. However, to technical analyst Gary Wagner, this knee-jerk reaction is a necessary correction in gold’s overall rally. ‘We might go into period of consolidation but overall I am bullish,’ he told Kitco News. ‘Gold challenged the $1,300 mark and I still think we can take that out this year.’ (show less)

The gold market saw additional selling pressure in late-afternoon trading Wednesday, following the early release of former FBI director James Comey’s testimony scheduled for Thursday. However, to technical analyst Gary Wagner, this knee-jerk reaction is a necessary correction in gold’s overall rally. ‘We might go into period of consolidation but overall I am bullish,’ he told Kitco News. ‘Gold challenged the $1,300 mark and I still think we can take that out this ... (read more)

 
 
Chart This!

Chart This!
A former city guy, Gary Wagner abandoned the briefcase & tie and joins us weekly from his home in Hawaii. Whether you are a newbie or veteran trader, Gary provides an educational segment for all levels of investors. Gary will teach you the ‘ins’ and ‘outs’ of mapping gold charts from using Japanese Heikin-Ashi charts to Elliott Wave analysis. Gary Wagner simplifies charting for investors every Friday on Chart This!

 

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