Gold markets Technical analysis
Gold markets initially withdrew a little in the early hours on Monday, only to turn around and show signs in force again. By doing this, it shows how bullish and positive this market is in general, and I think it will probably break out for the front. If and when this is the case, I don’t see anything that gold eventually reaches the level of $ 3,000, but I am also the first person who says it will probably be rather noisy on the way up. Because that is the case, I am pretty bullish and I see dips as potential buying options.
The level of $ 2,900 should remain important, just as it should be $ 2,800 level. I believe that the level of $ 2,800 is the floor in the market, if you want, with the 50-day EMA there and the fact that it was earlier resistance. So there must be a certain amount of market memory that hangs around there. Keep in mind that there are now enough things to push the gold market higher, not least geopolitical worries and worries about rates.