Gold Markets Pull Back to Test the 50 Day EMA

Gold Market Technical Analysis

Gold markets have fallen rather significantly during the trading session on Friday to reach the 50 Day EMA and then turned around to bounce significantly. That being said, the market continues to see a lot of support, and even though we had a major slip lower during the day, we are continuing to recover. It will be interesting to see how much this market recovers because we have seen such a huge fight over the last couple of days.

Keep in mind that bond yields in America continue to be a major issue, and therefore could have been what kicked everything off during the day on Friday. Nonetheless, we are still technically in an uptrend until we break above the $1900 level, even though algorithmic trading has been like a wrecking ball for this market. As long as we can stay above the $1900 level, I am not necessarily interested in shorting gold, but buying it has been difficult as well.

Pay close attention to the bond market, if yields break to a fresh, new high, that is going to continue to cause issues for gold as well. Ultimately, this is a market that is trying to figure out where it wants to go next, and of course, has had a lot of issues over the last several days as volatility continues to be a major problem for almost everything. While there is a bit of a negative correlation to the US dollar, it is not absolute, so you should keep that in mind as well. Keep your position size reasonable, there seems to be a lot of trouble out there.

Gold Price Predictions Video 25.04.22

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