Gold Markets Bounce From the Crucial 200 Day EMA

Gold Market Technical Analysis

Gold markets initially broke down below the 200 Day EMA, but as the futures market opened up, we started to see buyers jump in and try to support this market. Because of this, I think it is probably only a matter of time before we see gold try to go looking to the $1900 level. If that is going to be the case, then I think gold has a real shot at turning things around finally. After all, we had sold off quite drastically, but when you look at the area that we are testing, it previously had been re so it should now be supported.

The 50 Day EMA is at the $1918 level and starting to slump. That could offer dynamic resistance, and therefore I think that we have a lot of work to do to turn the market around completely, but at the very least I would anticipate a bit of a bounce, as we are a little oversold of course there are a lot of concerns out there that could have traders looking to the gold market for safety.

On the other hand, if we break the market down below the candlestick from the trading session on Tuesday, then it is likely we go looking to the $1800 region. This is an area where we had seen a lot of noise and support previously, so it would make a certain amount of sense that we see a bit of a fight in that area if we do fall that far. Given enough time, I do think that gold will turn things around.

Gold Price Predictions Video 04.05.22

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