Gold markets Technical analysis
The gold markets met quite considerably in the course of the early hours in the course of the trade session on Tuesday. We are far above $ 2,900 level, and now it seems that we can run back to the highlights, just about $ 2,950. In addition, the possibility of achieving the target of $ 3,000 opens, an area that I think many people strive anyway. And of course an area that I think when we arrive there will be many headlines, probably options, trade, and so on.
So with all this I stay bullish in the long term, and I look at gold as a market that when it falls, it offers value. The 50-day EMA is just above the level of $ 2,800 and I think that is also a support level. So it’s really not until we break down under that region, that I would worry about the overall upward trend.