Gold Price Forecast – Gold markets flat to kick off week

Gold markets have stalled at the 50 day EMA, an area that of course would attract a lot of attention. There is also an uptrend line underneath, and if we break below that uptrend line, then I think the market probably goes down to the $1200 level, an area that should be important, and a break down below there could unwind although bullish momentum that we have seen recently. That would probably send this market looking for the $1100 level, and then eventually the $1000 level. However, if we were to turn around and break above the $1250 level, then we could go much higher, as it would more than likely coincide with a recapturing of the previous consolidation area.

Gold Analysis Video 20.11.18

This market was consolidating between $1200 on the bottom, and $1400 on the top. I think we will probably continue to do so if we rally from here, but we must clear the $1250 level to make that happen. I don’t think we would break above the $1400 level, but if we did that would obviously be a major change of attitude for this market. As we are now, I think we are essentially right in the middle of the market trying to figure out where it’s going. With that in mind, I would be very cautious about putting too much money to work, unless of course you are looking at buying physical gold, then of course it becomes an investment. Otherwise, let the dust settle and then the sea which one of these major barriers we break through initially to start putting money to work.