Gold markets Technical analysis
The gold market was gathered a bit here on Wednesday in the early hours, because it seems as if in fact we will continue to continue the overall uptrend sooner or later. Because this is the case and the fact that we have recently formed such a bullish flag, I think you have a situation in which traders are looking for a very strong market that has been a very strong market for some time. In the end I think you have a market that, based on the measured movement of the bullish flag, should look at the level of $ 3,300. And to be honest, there are many worries that people can actually float in gold to protect their wealth and portfolios.
That is why I think the idea to buy on dips and it seems as if we will see the 3000 -level offer here a bit of support. If we were to break down below the level of $ 3,000, then we could get a bit deeper from a pullback, but at the moment it seems more likely that we just buy the dip and finally after picking up our breath a bit of this outbreak, we keep going higher. I am not interested in getting gold short and with the American dollar that loses a little strength against multiple currencies, I think that for that reason you have a real shot of Gold Rallying, let alone all the other geopolitical uncertainty.