Gold Markets: Massive Reversal After Inflation Numbers Forex metals Trading
Enter your emailI would be cautious about my position size, but I certainly only have one direction in mind.had initially fallen on Friday and then fell even quicker once the inflation numbers came out much hotter than anticipated.
However, the bond market reversed as people started to buy bonds in fear of a recession, and in a bit of a knock-on effect, this market has skyrocketed to pierce the 50-day EMA.Looking at this chart, if we continue to go higher from here, we will more than likely attack the $1900 level. If we can break above the $1900 level, then it’s likely that we could see the gold market looking to the $2000 level.
If we were to turn around, you have to believe that there is a significant amount of support at the $1835 level. Furthermore, you probably have support at the $1825 level as well. In other words, this is a market that will continue to be noisy, but it certainly looks as if people are willing to get involved and start getting long on any type of value that is offered.