Gold Price Forecast – Gold Markets Break Out

Gold markets have had an explosive move during the trading session on Wednesday to break above the crucial $1835 level, an area that has been very difficult to crack for some time. Now that we have broken above this level, it will be interesting to see whether or not there is any real follow-through. At this point, I anticipate that it is going to be difficult to continue to move the way it has, because quite frankly gold has gone absolutely parabolic. Gold does tend to do this from time to time, but then it gets very noisy. I anticipate waiting for a pullback is probably the smartest things you can do, because quite frankly it will calm.

Gold Price Predictions Video 11.11.21

“Market memory” could come into the picture at the $1835 level, as it is an area where there has been a lot of selling pressure in the past, so one would believe that there should be a certain amount of buyers going forward. The market will continue to be very noisy overall, but I think that is an area that will have to be closely monitored. If we were to break down below the bottom of the candlestick for the trading session on Wednesday, that more than likely since the gold market into a very ugly turn.

I do like the idea of gold cord the $1900, I just do not want to see it happen in the next 20 minutes! After all, momentum is a fickle thing, and chasing a trade that behaves like this is a great way to lose money. (I cannot tell you have the times I have done this in the past.) Because of this, I am going to have to be patient and look for value.

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