Gold Price Forecast – Gold Falls Over Easing Tension in Ukraine

Technical Analysis Expert & Editor @ GoldPredict.com
February 15, 2022

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Gold has been heading higher over increasing market volatility and worries in Ukraine. Futures must hold $1850 to support a bullish breakout to new highs.  

Gold Future Daily Chart

Gold futures are turning lower amid de-escalating tensions in Ukraine. The next 48-hours of trading are crucial. Below are key price levels to monitor.

On the Bullish side

If this is a backtest of Friday’s breakout, then prices should hold support around $1850, reverse higher, and then extend above $1900. That would support an immediate slingshot move to the upside. 

On the Neutral side

If the recent move above $1850 was a failed breakout, then prices are likely to consolidate for another 1 to 3-months.

On the Bearish side

A sustained breakdown with progressive closes below the December $1750 low would signal continued weakness into mid-April, and the next intermediate-degree low (pink arrows).

I believe the odds favor a bullish to neutral outcome near-term. Our primary forecast for 2022 still anticipates the price of gold approaching $3000 by year-end. 

AG Thorson is a registered CMT and expert in technical analysis. He believes we are in the final stages of a global debt super-cycle. For regular updates, please visit here.

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AG Thorson is a registered CMT through the MTA and an recognized expert in technical analysis of the precious metals markets. He is also the Editor of GoldPredict.com where members receive daily updates and regularly scheduled reports 3-days a week. He prides himself on making his analysis easy to understand through the use of adaptive and creative charting methods. You can reach AG at [email protected].


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