Gold Price Forecast – Gold Markets Continue to Look for Buyers

Gold Market Technical Analysis

Gold markets have fallen again during the day on Thursday as we have broken down for the second day in a row. That being said, the market is now trying to figure out what to do about the 200 Day EMA. The 200 Day EMA is obviously an indicator that a lot of people will pay attention to. The 50 Day EMA is currently falling, and it does suggest perhaps we may be trying to form the so-called “death cross.” Obviously, we are nowhere near that yet, but it’s something to keep an eye on.

If we can turn around and take out the highs of the last couple of days, then we have a shot at breaking above the 50 Day EMA, possibly continuing to go to the $1900 level. That being said, you should be very cautious about getting aggressive one way or the other, because we continue to see a lot of noisy behavior in both directions. You will have to keep an eye on multiple markets, not the least of which will be the bond market.

The US dollar also has an influence, so pay attention to that as well. If we do break above those candlesticks for the highs of the week, then although it will be bullish, it will be very jumpy. If we break down below the bottom of the candlestick for the trading session on Thursday, then I think we are going to pull back in order to find some type of supportive action between here and the $1800 level. Breaking down below $1800 could cause a major breakdown in this market.

Gold Price Predictions Video 27.05.22

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