Gold Price Forecast – Gold markets stretch again

At this point in time, it should be obvious that Gold is broken out. However, it also has gotten far ahead of itself as we are picking up $20 a day minimum. At this point, a pullback is all but imminent and the candle stick for the day certainly looks as if the markets are starting to look at that as a real possibility. After all, sooner or later you ran out of buyers. The $1400 level below would be an excellent target for support to come back into play, and it’s possible that we see the market pulled back to that area before finding buyers again. Remember, there’s a gap there from a couple of days ago, just as there is a gap all the way down to the $1350 level. With that in mind, it makes sense that we could see buyers get involved in trying to turn things back around and continue the upward trend.

Gold Technical Analysis Video 26.06.19

With the Federal Reserve stepping on the sidelines, it’s very likely that the US dollar should continue to soften overall, especially against this market. With that in mind I am looking to buy dips and not looking to sell, this is a market that is far too bullish and has become the flavor of the month so to speak. To the upside, I think that we are probably going to go looking towards the $1450 level, perhaps even followed by the $1500 level relatively soon. All of that in the back reminds, we have to keep in the forefront the fact that the market is overbought by just about any metric.

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