Gold markets Technical analysis
Gold markets went back and forth in the course of the trade session on Wednesday in the early hours. But at the moment it seems that we do everything we can break out, but perhaps we still have some work to do pullbacks in the short term, I believe, in the end I can buy opportunities in the gold market if it is as bullish . And of course we had seen so much upward pressure during the previous session. On Tuesday, the level of $ 2,900 is a large, round psychologically significant figure that has supported more than once.
But even if we break down there, it is likely that we could go to the level of $ 2,800, where I think it will be supported even heavier as the 50-day EMA goes there. I think it is probably only a matter of time before gold reaches the level of $ 3,000, which of course has been my target to go back to October last year, but unfortunately we had a long period of consolidation, and we are just now getting Free of this If you look at the previous consolidation area, this suggests a measured movement of $ 3,000, so it all closes very nicely together.