Gold Price Forecast – Gold markets rally again on Wednesday

With the Federal Reserve looking to step to the upside overall, it’s possible that we could see gold rally a bit over the next several days, and perhaps break out above the $1350 region. If we do, that opens the Gold markets to reach towards the $1400 level filing. Short-term pullbacks should have plenty of support underneath at the $1325 level, which of course was massive resistance. We had formed a little bit of a bullish flag just below, so that was your first hint that we could go higher.

Gold Price Forecast Video 21.02.19

However, it is a bit surprising that the area above the $1325 level has been chewed through so quickly, and this shows just how strong gold is becoming. Pullback should offer plenty of buying opportunities and I have no interest whatsoever in shorting Gold, unless of course we break down below the $1300 level. If we do break down below $1300, I suspect that there is even more support at the $1275 level. Looking at this chart, I suspect that there will be plenty of value hunters coming out, as we are starting to see the greenback change its attitude overall. Quite frankly, the only reason the US dollar is relatively high against many other currencies is that there are so many issues in the European Union and of course the whole nonsense going back and forth with the Brexit. If that gets settled, the greenback will get torn up. If that happens, Gold will skyrocket. I have no interest in selling.

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