Gold Price Forecast January 25, 2018, Technical Analysis

Gold markets rallied significantly during the trading session on Wednesday, reaching towards the $1360 handle. We are starting to show signs of weakness though, so I think a pullback could be coming. The pullback should be thought of as a buying opportunity though, because we have seen so much in the way of bullish pressure. Selling certainly would be folly, and dangerous to say the least. I think that the $1325 level should be support, but I would be surprised if we go that low. In fact, at one point I thought the $1350 level would be more resistive than it ended up being. Because of this, I think that is a significant amount of interest in gold, and I think we should continue to see buyers flood towards it.

The longer-term charts look healthy as well, and I think that the $1400 level above will be a significant target, and perhaps even a barrier. If we can break above there, if I resolve the longer “buy-and-hold” signal for the marketplace, and therefore should attract a lot of fresh money into the gold markets. The US dollar has been beaten up for some time, and I think that should continue going into the spring. We will get the occasional pullback, but that offers value for those who are patient enough to take advantage of it. It’s not until we break down below the $1300 handle that I would be concerned about the health of the uptrend.

Gold Price Forecast Video 25.01.18