The gold markets have rallied significantly during the course of the
trading session on Thursday to reach towards the 50 day EMA.To get more
news about
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Gold markets have rallied significantly during the course of the
trading session on Thursday to break above the 50 day EMA. By breaking
above the 50 day EMA, it does suggest that we are going to go higher but
there are a lot of reasons to think that it will be somewhat limited.
The ultimate indicator that a lot of traders will use for finding the
trend is the 200 day EMA, and that currently sits at the $1794 level. If
we can break above the 200 day EMA, then obviously it is likely to send
this market much higher. At this point time, the market is likely to go
looking towards the $1850 level, and then possibly the $1950 level.
All things being equal, the market is likely to see selling pressure
somewhere between the 50 day and the 200 day EMA, especially if the
interest rate yields in America continue to fall off. However, they turn
around and shoot up in the air, then it makes quite a bit of sense that
gold would rally due to the fact that it is cheaper to simply clip
coupons on a bond then it is to pay for storage. From a pure technical
analysis standpoint, we have made a turnaround and it certainly looks as
if we are trying to go higher, at least in the short term. The fact
that we have shot higher during the trading session to gain over $30
almost immediately does suggest that we probably have further upside. If
you are a short-term trader, then the gold market is likely to see more
people buying.
The Wall