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Gold Price Forecast – Gold Markets Very Choppy

Gold markets continue to be very choppy, as we continue to hover above the 200 day EMA. That’s a very good sign, as a lot of traders will use the 200 day EMA as a trend defining indicator.
Christopher Lewis

Gold markets have suffered as of late, but the last couple of days have been going back and forth in order to perhaps show signs of stability just above the 200 day EMA which of course is a widely followed indicator. That typically defines the trend for a lot of longer-term traders, so of course it will attract a lot of attention. If the market can break above the $1550 level on a daily close, then it’s very likely that we will continue to reach towards the highs. Alternately, if the market were to break down below the $1450 level, then gold will roll over quite significantly.

Gold Price Predictions Video 19.03.20

At this point, the market looks as if it is trying to make a longer-term decision so pay attention to both of those levels as they can tell you where we are going next. Central banks around the world are flooding the markets with money, which should in theory be good for gold, but we are nowhere near an inflationary environment. Gold is probably moving more or less on safety than anything else right now. All things being equal though, until we break out of this range it will probably be a short-term and choppy type of marketplace. That being said, there should be plenty of short-term back-and-forth type of opportunities. Shorter-term stochastic based trading systems will probably do quite well, as well as simple short-term range bound back-and-forth issues. I think overall this is a market that will continue to see a lot of noise, as headlines of course will be highly influential.

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