Gold Price Forecast February 23, 2018, Technical Analysis

Gold markets rallied a bit during the trading session on Thursday, breaking above the $1325 level, show signs of strength again. It now looks as if it is going to try to break above the $1335 level, which would be a bullish sign. I think that the $1350 level above will be the target. However, we need the US dollar to continue to soften to help the gold markets, as we have seen a bit of a selloff as of late. Longer-term, I remain very bullish of gold, and I think it’s only a matter of time before breaks out to the upside. It’s going to take a significant amount of momentum though, because the area above $1350 is extraordinarily noisy, and extends to the $1400 level after that. If we were to get that moved, the market is very likely to continue to go in more of a “buy-and-hold” scenario.

The alternate scenario of course is that we break down below the $1320 level, and if we do then I think the market goes down to the $1300 level where we should find plenty of buyers as well. I don’t have much in the way of interest when it comes to shorting this market, I believe that there far too the reason to think the gold can rally, not the least of which has been the US dollar weakening, geopolitical concerns, and many other factors. Longer-term, I anticipate that will go looking towards $2000.

Gold Price Predictions Video 23.02.18