Technical analysis of the gold market

Gold markets rallied a bit in Tuesday’s trading session to hit the 200-day EMA before pulling back a bit. It looks like the market is going to continue to see a lot of volatility in this region, which is quite logical given the noise and volatility in the market over the past two weeks. In addition, we have to worry about interest rates in the United States, which sometimes have a direct negative correlation with this market.

The 50-day EMA is currently at the $1875 level and falling. This offers dynamic resistance, and this is an area where we have seen sellers before. If we break above the 50-day EMA, it would be a very bullish turn of events, opening up the possibility of a move to the $1900 level and then even up to the $2000 level. However, this would require a massive upward movement.

If we go below the recent consolidation low, it will open a move down to the $1800 level, which is a large, round, psychologically significant number and an area where we would also see the uptrend line appear. . That being said, this is a market that will continue to be very choppy and noisy in the meantime as traders try to figure out where the Federal Reserve is going and of course inflation expectations. That being said, we will continue to have a lot of loud behavior and so it makes sense that we will see a lot of confusion.

Gold Price Predictions Video 08.06.22

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