Gold Markets Continue to Power Higher Forex Gold Trading
Enter your emailLooking at this chart, I do believe that we will reach the highs eventually, although they may not be as parabolic as they had been previously. At this point, it looks as if the market is going to continue seeing a lot of bullish pressure, especially as inflationary concerns continue to be a major issue. Furthermore, the overall momentum to the upside has been sideways for a while, working off some of the excess froth in the market.
The US dollar has been rallying right along with the gold market, which is something that most people do not believe will happen. That is obviously not true, and all one has to do is look at the 1980s to see an example of when both went up at the same time. In an inflationary environment and a very “risk-off” environment, both of these markets can rally.
Looking at this chart, I do believe that we will reach the highs eventually, although they may not be as parabolic as they had been previously. Ultimately, this is a market that I think will continue to be one of the better performers, and I think it is difficult to imagine a scenario where you could be short. The market would have to break down below the $1880 level for me to think that the trend was over, which is obviously something that we will be seeing anytime soon, so I am only looking at the gold market from the upside.
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