Gold markets weekly technical analysis
The gold markets initially withdrew a little at the start of the week to break down below the level of $ 2,900, but have since shot straight up in the air. This was an outbreak of a small bullish flag that suggests that we could go as high as $ 3,300. And I think that is more likely than not what happens. That said, we hang around the level of $ 3,000. So don’t be surprised at all if we see a bit of a pullback in the short term to collect profit, things like that. There are also usually many options in this general environment, and many traders have been involved in gold for some time.
So this is a scenario in which there are many value hunters who are willing to take advantage of it. And I do think that geopolitical and trading care all over the world continue to make gold markets very attractive to protect wealth. So I am looking for Dips, but if we were to break above the level of $ 3,010, I think we will continue to tear to the benefit of $ 3,300. The level of $ 3,300 will of course be attractive as a target for those who pay close attention to this bullish flag. I am not interested in the shortage of gold, as soon as the trend is very clear in the longer term at the moment.