Gold Markets Breakthrough Recent Consolidation

Gold Market Technical Analysis

Gold markets have fallen hard during the trading session on Tuesday to break down through the $1970 level, an area that had been previous resistance. At this point, the market is going to be looking for buying opportunities, and of course support, the people who can get involved in. Looking at this chart, I do think that that is only a matter of time before buyers will get involved, but you need to see some type of stability or a bounce in order to take advantage of that. With this being the case, the market is likely to see value hunters come back into the picture and take advantage of any opportunities.

The 50 Day EMA is currently at the $1925 level and rising, showing signs of strength. At this point, the market is more likely than not going to be a “buy on the dip” type of situation. The market had formed a shooting star on Monday as we tested the $2000 level, so it is only a matter of time before we see the market try to get back to that level. The US dollar has spiked during the trading session so that had a major influence on what is going on here. If we do manage to break above the $2000 level, then it is likely that the market could go looking to reach the $2050 level again. At this juncture, it is very likely that selling will not be easy, although there seems to be quite a bit of momentum during the trading session.

Gold Price Predictions Video 20.04.22

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