• The gold markets rallied Tuesday only to give back the gains to form a bit of a shooting star.
• The shooting star is a very negative candlestick and the fact that it has happened three days in a row suggests that there is a lot of negativity just above.

Trying to Break Above $1750

Looking at this market, it’s easy to see that the $1750 level is an area that is rather difficult to get above, and if we can break above there, then we have a path to the $1800 level. The $1800 level is previously supported and should have a significant amount of resistance in that general vicinity. The 50-day EMA sits right there as well, and it’s also worth noting that the previous trendline is in that same area as well.