OUTLOOK 2014: Chart This! Looks at Gold in the New Year

Continuing the Outlook 2014 series, Kitco News welcomes Gary Wagner to talk about his forecasts for gold. Although the yellow metals has been struggling to gain momentum, Wagner says there are some signs of a potential bottom in the market. “In terms of Elliot wave[…]we are just finishing a 5th wave of a long move down,” Wagner says. “Once that has concluded, according to Elliot wave theory, we’re going to see a series of rallies.” Overall, Wagner says the market is extremely oversold and the predominant mentality of traders has been bearish on gold. “Typically, you get bottoms in the market when it is really weighted in an extreme way to one side or another,” Wagner says. “So, if everyone out there is really bearish, that tends to be the beginnings of any kind of a bull run,” he adds. Wagner states that although there has not been technical confirmation that the market is out of this bear progression, it is important for people to look at the numbers gold is hitting because they are potential number for pivot points or key reversals. Tune in now to hear Wagner’s outlook for gold. Kitco News, December 9, 2013. (show less)

Continuing the Outlook 2014 series, Kitco News welcomes Gary Wagner to talk about his forecasts for gold. Although the yellow metals has been struggling to gain momentum, Wagner says there are some signs of a potential bottom in the market. “In terms of Elliot wave[…]we are just finishing a 5th wave of a long move down,” Wagner says. “Once that has concluded, according to Elliot wave theory, we’re going to see a series of rallies.” Overall, Wagner says the market is ... (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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