Italia markets closed
  • FTSE MIB

    22.970,73
    +112,55 (+0,49%)
     
  • Dow Jones

    33.761,05
    +424,38 (+1,27%)
     
  • Nasdaq

    13.047,19
    +267,27 (+2,09%)
     
  • Nikkei 225

    28.546,98
    +727,65 (+2,62%)
     
  • Petrolio

    91,88
    -2,46 (-2,61%)
     
  • BTC-EUR

    23.827,25
    +63,54 (+0,27%)
     
  • CMC Crypto 200

    574,64
    +3,36 (+0,59%)
     
  • Oro

    1.818,90
    +11,70 (+0,65%)
     
  • EUR/USD

    1,0257
    -0,0068 (-0,66%)
     
  • S&P 500

    4.280,15
    +72,88 (+1,73%)
     
  • HANG SENG

    20.175,62
    +93,19 (+0,46%)
     
  • Euro Stoxx 50

    3.776,81
    +19,76 (+0,53%)
     
  • EUR/GBP

    0,8457
    -0,0001 (-0,02%)
     
  • EUR/CHF

    0,9656
    -0,0058 (-0,60%)
     
  • EUR/CAD

    1,3100
    -0,0071 (-0,54%)
     

Gold Price Forecast – Gold Markets Continue to Grind Back and Forth

·2 minuto per la lettura

Gold Market Technical Analysis

Gold markets have gone back and forth during the Friday session, as we continue to see a lot of noisy behavior. The $1830 level has acted as a short-term resistance, but if we were to break above the top of the candlestick for the trading session on Friday, it opened up the possibility of a move to the 200 Day EMA at $1854.

Alternatively, if we were to break down below the bottom of the candlestick for the trading session on Friday, then we could go down to the $1800 level. The $1800 level is a large, round, psychologically significant figure, that coincides quite nicely with the uptrend line. Because of this, think that we will have a major fight on our hands in that general vicinity. If we were to break down below there, then it’s likely that we go much lower, perhaps down to the $1750 level. All things being equal, this is a market that is probably going to continue to be a lot of volatility and choppy behavior.

Ultimately, this is a market in which you’re going to have to be very cautious with your position size as there is a lot of noise just waiting to come in and cause major issues. That being said, if we can ever break above the $1880 level, it’s possible that we could send this market much higher. At that point, the market could go all the way to the $2000 level over the long term. That being said, keep an eye on the US dollar as well, because it can have a major influence on the pricing of gold as well.

Gold Price Predictions Video for 27.06.22

For a look at all of today’s economic events, check out our economic calendar.

This article was originally posted on FX Empire

More From FXEMPIRE:

Il nostro obiettivo è creare un luogo sicuro e coinvolgente in cui gli utenti possano entrare in contatto per condividere interessi e passioni. Per migliorare l’esperienza della nostra community, sospendiamo temporaneamente i commenti sugli articoli