15 April 2022
Gold Market Technical Analysis
Gold markets pulled back a bit during the trading session on Thursday, and now on Friday, it looks like very little happened. There were a few random hours available in the futures markets, but CFD markets offer plenty of liquidity, and it will show you that the market is ready to go higher. The market is more likely than not going to go looking to reach the $2000 level above. The $2000 level is an area that could cause a little bit of noise due to the psychology attached to it, but we have sliced through there rather easily in the past, so I think it does make a certain amount of sense that we would do it again.
Looking at this chart, if we break it down below the $1950 level, it is likely that we go looking to the 50 Day EMA underneath. It currently sits at the $1921 level but is starting to curl a little bit higher. That being said, the market looks as if we are in a strong uptrend, and therefore every time we pull back it should be a bit of value just waiting to happen. The volatility will continue to be a major contributor to the market, but I think given enough time we could continue to go higher given enough time. In fact, this is a market that looks like it is got much further to go, and will have plenty of people looking to get involved any time there is a little bit of value to be had.