Gold markets Technical analysis
The gold market has been everywhere during the trade session in the early hours of Thursday, and we have even seen a strong sale at some point, but it seems that the buyers are coming back to pick up this market. We are in a strong upward trend, so that is not a big surprise, and when you get a dip, there will be a certain number of people who are willing to participate. After all, this has been one of the best transactions so far in the past three or four months, and we recently broke above the top of a huge bullish flag that suggests that we are going much higher. In fact, it suggests that we could go as high as $ 3,300.
So, with that in mind, I am not interested in becoming too cute here. I see dips as buying options in the short term, but I also acknowledge that traders may add to positions in the longer term while we are there. In other words, it works for everyone. The $ 3,000 level underneath must be considerable support, and then the $ 2,900 level thereafter, especially now that the 50-day EMA is starting to race to that level.