Gold Markets Hover Near the 200 Day EMA
Monday's gold markets were volatile despite the Memorial Day weekend in the U.S.

Gold Market Technical Analysis
Monday's gold markets oscillated near the 200 Day EMA. The market is unsure where to go since the 50 Day EMA is barely above and declining. This market's long-term direction may be impacted by external influences. In most cases, a stronger US currency will be bad, but you need also watch US interest rates.
As we saw last month, increased bond rates might pull money away from gold. Finally, consider storage. Paper yields are far cheaper than vaulting gold.
If we break the 50 Day EMA, we might advance to $1900 or $2000. I wouldn't anticipate enormous momentum with such a choppy and powerful move. This situation would involve a lot of back and forth, so you'd have time to purchase on dips. You may argue for a bullish flag at the moment, but momentum must take gold higher. $1800 remains the market's "floor."
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