{"id":5998,"date":"2019-02-20T11:02:37","date_gmt":"2019-02-20T11:02:37","guid":{"rendered":"https:\/\/www.wasteyourtime.co\/?p=5998"},"modified":"2019-09-06T16:58:35","modified_gmt":"2019-09-06T15:58:35","slug":"gold-markets","status":"publish","type":"post","link":"https:\/\/traders-paradise.com\/magazine\/2019\/02\/gold-markets\/","title":{"rendered":"Gold Markets Break Out Above The Resistance"},"content":{"rendered":"

<\/h1>\n

1 min read<\/span><\/i><\/p>\n

\"Gold
\nGold markets rallied significantly during the trading session on Tuesday. If the US dollar continues to fall, and it certainly shows itself likely to do so, the Gold markets will quite often rally by proxy. This market has a significant amount of resistance above. We are towards the top of the overall consolidated range, you have to keep in mind.<\/span><\/p>\n

At this point, there is a lot of sounds spreading to the $1350 level. So, this is a very bullish looking candle. It would not be surprising to see some sort of pullback in this marketplace but now the $1325 is support level. It was resistance before. <\/span><\/p>\n

If gold can break above the $1350 level, the break will become the gate opened, and the market should very promptly go towards the $1400 level.<\/span><\/p>\n

Hence, the idea of buying pullbacks in this\u00a0precious metal sounds quite good. Well, as we can see, the strong uptrend certainly looks likely to continue.<\/span><\/p>\n

\"Commodity<\/p>\n

Take a look at this chart. You can see that the market just broke out above a bullish flag, and of course, have cleared a significant resistance. So look for value and you will be rewarded. <\/span><\/p>\n

But the $1300 level underneath is a massive floor in the market. It will be difficult for this market to break down through there. If so, then the $1275 level should offer support. There\u2019s a couple of various places where the buyers will return. Look at short-term charts, but you should get the opportunity to pick up gold cheaply fairly soon.<\/span><\/p>\n

Maybe too many traders have rallied to buy on this level.<\/span><\/p>\n

\n
\n

Table of Contents<\/p>\nToggle<\/span><\/path><\/svg><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n