Gold Forecast: Markets Crushed to Start New Year Goldtrading 2022 forecast
We are closing at the bottom of a very ugly candlestick, which suggests that we have much further to go. We are closing right around the $1800 level, as well as the 50 day EMA and the 200 day EMA. It would not be overly surprising to see a little bit of a bounce from here, simply because we had fallen so hard, losing over $30 an ounce.
There is the negative correlation with the US dollar, and the US dollar did have a positive session. However, the selloff in the gold market is far beyond what is warranted due to the Forex influence. There is something bigger going on here, and it is obvious that gold is not a preferred asset at the moment.
Sometimes it is easier to trade what is instead of what should be, and this might be one of those times . Regardless, the most important thing on this chart right now is recognize that the big candlestick like this very rarely happens as a “one-off.”
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Gold Price Forecast: XAU/USD eases from six-week high on USD rebound, $1,834 in focusGold Price Forecast: XAU/USD eases from six-week high on USD rebound, $1,834 in focus By anilpanchal7 Gold Coronavirus Fed Commodities RiskAppetite
Consulte Mais informação »
Gold Forecast: Breaking Through Major Resistance BarrierGold markets broke above the crucial $1820 level on Friday to end the year on a very good note.
Consulte Mais informação »
Gold Price Forecast: Defying the 1,800 threshold on dollar’s demandSpot gold plunged heading into the US opening as US Treasury yields soared. The bright metal started the week with a soft tone amid increased demand
Consulte Mais informação »
Russian businessman's Kremlin ties could prove intelligence 'gold mine' for US, former official saysA Russian businessman who appeared in US court on securities fraud charges could be a valuable asset in US efforts to gather more information on Russian interference in the 2016 election as well as other intelligence operations, former US officials say.
Consulte Mais informação »
Study finds Legos are better investment than goldA Russian study finds collectible toys like Legos are a better investment than gold, stocks or bonds.
Consulte Mais informação »