Gold forecast for the week of September 11, 2017, Technical Analysis

Gold markets gapped higher at the open on Monday, but then fell to fill that gap. Ultimately, we reached as high as $1355 or so, and then pulled back slightly. The market looks a little extended at this point, so I believe that we may pullback from here. I would love to see this, it offers value in a market that has obviously broken out. If we pull back towards the $1300 level, I believe there will be a lot of interest in buying gold below. Any supportive candle on a shorter-term timeframe would have me interested, especially the daily chart. Alternately, if we break above the $1380 level, and then we will start to go parabolic and probably reach towards $1400.

Gold Prices Video 11.9.17