Scott Redler appeared on CNBC’s The Monday Trade to talk about how to trade the upcoming week. During past two weeks, the market has bounced off of the 1040-1060 area but he believes that as the market consolidates lower this week, the S+P500 will break below this important level of support. In a market like this one he stresses the importance of educating yourself and being more active as opposed to a “sidelines investor.”
Over the past two years Scott Redler has been accurately forecasting price movements in gold. In an interview for TheStreet.com, he predicts that gold could break through the highs of $1,250 and says that if the market starts to go negative, add to your gold position because the pattern looks good. If the market breaks below the lows it has been holding over the past two weeks, he believes gold can make a move towards the $1,300 level.
