Corona Virus
Stay Safe, FollowGuidance
Fetching Location Data…
Christopher Lewis
Gold daily chart, March 26, 2019

Gold markets rallied again during the day on Monday, after initially pulling back a bit to find some buying. The $1325 level is just above though, and that’s an area that should continue to cause resistance due to the large, round, psychologically significant figure. Beyond that, if we can break above that level it would not only break that big figure but will also break above the previous uptrend line. That of course would both be very bullish sign’s.

Gold Prices Video 26.03.19

If we do pull back from here, it’s likely that we will go looking towards the $1300 level as support. Beyond that, we could break down below there and go looking towards the $1275 level underneath. That’s an area that features the 200 day EMA, and of course previous support. At this point, it looks as if that could be a bit of a “floor” in the market.

Know where Gold is headed? Take advantage now with 

75% of retail CFD investors lose money

All things being equal, we should pay attention to the fear trade, whether or not money is flowing into precious metals to protect trading accounts that are suffering at the hands of depreciating currency. If we do get that, then we will probably go looking towards the $1350 level on the break out. To the downside, a break below the 200 day EMA is a longer-term sell signal, which could open the door down to the $1200 level, albeit unlikely at this point. All things being equal, it’s probably more or less consolidation that we will be seeing in the short term, perhaps in an attempt to finally build up enough pressure to break out.

Please let us know what you think in the comments below

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker

  • Your capital is at risk
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.