Gold markets Technical analysis
Gold markets have fallen a bit in the early hours on Wednesday, because we are waiting for CPI, but more importantly, we may have risen a little too far for ourselves. In the end we formed a perfect shooting star for the trade session on Tuesday, and now it seems that we are trying to break down from that. If we do that, that’s fine. It really only makes gold much more interesting for me because it had become so far before it. If you turn on the Bollinger bands, you can see that we have just pierced the Bollinger bands, so we have been pretty stretched for a while.
So we could fall as much as the level of $ 2,800, and I think that doesn’t change much. I would even like to buy it on a kind of jump. I would like to buy more gold. It is now just that we had stretched so far that it is difficult to chase it. On the other hand, we could just consolidate around the $ 2,900 level and go aside for a while. That is also very possible. If we break the top of the candlestick on Tuesday, we could see the market racing to the level of $ 3,000, which I believe we will touch sooner or later, regardless of anyway.