Gold Price forecast for the week of March 26, 2018, Technical Analysis

Gold markets exploded to the upside during the week, reaching towards the $1350 level. This is an area that extends to the $1360 level IV resistance, so I think we are trying to build up the necessary momentum to finally go higher. I would not be surprised to see this market pull back slightly though, especially if we get some type of call me effect on the potential trading restrictions between the United States and China. If cooler heads prevail, then the gold market should settle down quite a bit as it will get rid of safe haven traders.

Gold Technical Analysis Video 26.03.18

Otherwise, if things crank up a bit between the Chinese and the Americans, that will send gold much higher. If we can break above the $1360 level, I think that the $1400 level will be a target after that and could open the door to much higher levels such as the $1800 level, followed by the $2000 level. Ultimately, I think that the market continues to be a “buy on the dips” type of situation, and although we have been very bullish this past week, I suspect that this will hinge more on the conversations between the United States and China than anything else. Going into the weekend, it’s very difficult to guess as to what happens next, but it is possible that we could get a significant move first thing Monday morning in either direction, based mainly upon what the politicians have to say on both Saturday and Sunday. Ultimately, I don’t like selling gold, so it’s a matter of waiting for value.