Gold rolls over significantly during the trading session on Thursday

Gold markets rolled over a bit during the trading session on Thursday, as the tensions in the Middle East are starting to relax a bit. Less fear about a US strike on Syria has creeped into the market, perhaps dropping. The market will continue to be very choppy in general, as headlines drive it more than anything else, but I think there is plenty of support underneath to find some type of opportunity to go long. I believe that the market should continue to go higher over the longer term, perhaps reaching towards the $1375 level, and then the $1400 level.

I believe that the “floor” in the market is closer to the $1300 level, so it’s not until we break down below there that I would consider shorting this market, I believe that the market will continue to offer plenty of opportunities if you are patient enough. I would be cautious about jumping in with both feet, but I am still bullish of gold in general, and I think that eventually this market will break above the $1400 level, sending it towards the $1800 level longer term. I believe that the attitude of the traders will continue to be cautious, yet optimistic.

A lot of this is going to come down to your timeframe, but I believe that most short-term traders will find supportive candles to take advantage of if they are patient enough. Investors won’t be as cautious about entry points, just recognizing that lower levels will provide the value necessary.

Gold Price Predictions Video 13.04.18