Gold technical analysis
Gold markets were collected again on Monday during the trade session, because it looks like we are just ready to tear higher. That said, I think you have a scenario in which gold will remain very noisy. But I also believe that pullbacks offer purchasing options in the short term. There is literally no world in which I fall short of gold at the moment. And I think $ 3,000 now that your floor is, assuming that we would even retire to that area. The EMA of 50 days is approximately the level of $ 2,900 and rises. I think it will meet the level of $ 3,000 sooner or later to make everyone there happy. We had recently distributed a huge bullish flag, which had a measured movement of $ 3,300.
And that is why I think you should take into account that the measured movement is still not fulfilled. And I think many technical traders will push it to that level. In general, this is a market that I think remains very sensitive to risky appetite, which is currently miserable, and that is why people jump in gold for protection. Ultimately, this is a market that you are only looking for value on dips and you use it every time you get the chance. All things that are the same, there is nothing on this graph that even looks remotely or, in that regard, even slow.