Gold Price Forecast – Gold Markets Continue to Look Very Noisy

Gold Market Technical Analysis

Gold markets have gone back and forth during the trading session on Tuesday, as the market is all over the place. At this point, the market is likely to see a lot of volatility and choppiness, but at this point, it’s very likely that we will continue to see so much in the way of noise, with the $1800 level underneath being massive support, with the uptrend line coming into the picture right there as well. If we were to break below the $1800 level, that would be a very negative sign, and could see the market move to the downside rather rapidly. At that point, I think we can lose $50 rather quickly.

If we were to break above the top of the candlestick for the trading session on Tuesday, then the 200 Day EMA comes into the picture at the $1855 level. It is flat, so it does suggest that the market is somewhat directionless, therefore it’s likely that we could go as high as the $1880 level. That’s an area that has been resistant more than once, and therefore if we can break above that area, the market could really start to take off.

The market will continue to be very noisy, but given enough time I think we’ve got a situation where we will have to make a longer-term decision. We did just make a potential “double bottom”, therefore it is worth keeping that in mind. A break above that level opens up the possibility of a move to the $2000 level, an area that has been resistant more than once. The market continues to be very noisy and therefore we could see quite a bit of choppiness.

Gold Price Predictions Video for 22.06.22

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