Gold Price Forecast December 27, 2017, Technical Analysis

Gold markets continue to be very bullish, as we gapped higher at the open on Tuesday, went sideways a bit, and then continue to go higher. We now look likely to reach towards the $1290 level above, which is an area that we have seen action at previously, but for me, the more important level is the $1300 level and I think that’s what we’re going to be aiming for. In the meantime, the $1275 level should be supportive, as it was resistance and it now course has a gap sitting right on top of it. That is always a bullish sign, and it should send this market to the upside, looking for an opportunity to take advantage of the anti-dollar US sentiment.

If we were to break down below the $1270 level, then it would be very negative, but I don’t think that’s going to happen anytime soon. I also recognize that there are a lot of concerns about the geopolitical situation in the Korean peninsula, and it’s only a matter of time before something flares up there that sends this market to the upside as well. In general, the market should continue to be very choppy, but I think that the bullish pressure is going to be validated by the longer-term uptrend line that held on the weekly chart several sessions ago. Longer-term, I anticipate the gold’s going to go much higher, but we are still in the process of trying to build up a bullish attitude longer-term and that takes time. By keeping your leverage low, you can ride out the noise, and profit in the longer-term move.

Gold Prices Video 27.12.17