Gold markets weekly technical analysis
The gold market initially fell during the trade week, but turned around to show signs of life again, because we are not only collected, but we broke above the crucial level of $ 2,800. At the moment there is a lot of fear that Donald Trump will in fact go to rates in Canada and Mexico. And at the moment I think it’s a kind of given. So now traders are starting to worry about their portfolios and protect wealth with gold as one of the most obvious choices. Furthermore, it has been an uptrend for some time. So there is really no reason to guess whether or not it should go higher.
We spent a few months processing that profit and now we are going to the races again. I believe this is a market that will continue to attract a lot of inflow, and it is probably only a matter of time before we break to the $ 2,900 level. I am not interested in trying gold short. To be honest, if it falls, it will ultimately become a buying, because I think we now see the $ 2,700 level as a potential short-term floor in this market. Anyway, this is a market that looks very bullish, and there are an abundance of reasons to stay that way, and as long as that is the case, I am only long when it comes to this market, and we will look to to buy every dip on the way.