Gold Price Forecast – Gold markets rally above 50 EMA

Gold markets have a significant amount of resistance just above the $1250 level, so I think that is where the next fight is to be found, or just below there. On signs of exhaustion, I am more than willing to sell this market, but if we did break above the $1250 level, then I think the market will probably continue to go much higher. Otherwise, if we roll over from here I think we will test not only the 50 day EMA, but also the uptrend line underneath. Below there, I see the $1200 level as massive support. If we can break down below that level, then I think the market goes down to the $1100 level, and then perhaps even the $1000 level.

Gold Price Forecast Video 22.11.18

At this point, I think that we are more likely to see sellers come in than some type of massive breakout. After all, the US dollar has been so much in the way of strong that it’s difficult to imagine a scenario where it rolls over and gold can take off to the upside. I think some people are looking for the Federal Reserve to perhaps slow down its rate of interest rate hikes, but I believe that the Federal Reserve is still going to raise several times.

I expect I will see a lot of volatility, and I expect to see a lot of headlines out there that will only exacerbate that situation. In general, I am cautious with my trading positions and will only use small bits and pieces right now.