Gold markets have been going back and forth on Monday as we try to figure out where we should go next. Honestly, this is a brand that has been a bit exaggerated lately, so the fact that we have pullbacks should come as no big surprise. After all, the market cannot go in the same direction forever. Furthermore, there are many concerns about what Jackson Hole’s speech could be from Jerome Powell, and whether he will signal that the Federal Reserve is ready to continue flooding the markets. Honestly, I do not see how that is not the case, but traders tend to say the least.
Gold price predictions Video 25.08.20
Finally, the 50 day EMA is just below the $ 1900 level, and that’s an area that I think will attract a lot of attention. If we break below, we also have massive support at the $ 1800 level. Upwards, the $ 2000 level above will obviously be a goal and a psychological barrier. Although everything is the same, I do not think it can break an area, because we have to be honest. In fact, if we break above, we’re likely to go to the $ 2100 level ourselves. All things being equal, I am a buyer of dips that I have no interest in this short on the market, because honestly for several reasons are in a massive uptrend, not the least of which will of course be central banks.
