Gold Price Forecast – Gold Markets Find Buyers

Gold Price Forecast – Gold Markets Find Buyers

Gold Market Technical Analysis

Gold markets initially fell during the trading session on Wednesday but have found plenty of buyers underneath to turn things around. As soon as the open cry market opened, started to see buyers jump in and get aggressive. Ultimately, this is a market that will eventually find its way to the 200 Day EMA, and perhaps even above there. The market will be paying close attention to the $1870 level, an area that has been resistance previously. Ultimately, this is a market that I think given enough time will continue to see a lot of volatility, especially as interest rates are all over the place.

If we were to break down below the bottom of the candlestick for the trading session on Wednesday, then it opens up fresh selling down to the $1800 level. The $1800 level underneath offers the “floor in the market”, so breaking down below that would be catastrophic. On the other hand, if we were to turn around a break above the 50 Day EMA, the $1900 level will be a potential target, and once the market clears that area we could see the $2000 level get targeted, but obviously, we need to pay