Christopher Lewis Shared His Predictions on Gold

Christopher Lewis shared his predictions on gold. Lewis has announced the levels he expects in the precious metal.

Market analyst Christopher Lewis stated that the market is struggling to break above the 50-day EMA indicator, adding that it makes perfect sense for sellers to continue jumping in this market in this situation. The analyst used the following statements in his comments on the course of gold prices: "I believe there is a significant amount of resistance extending there and towards the 200-day EMA, so we are more likely to not see some sort of pullback." Analyst Christopher Lewis thinks that if it breaks below the lows of the week, gold will most likely go towards the $ 1,750 level, and this has been supportive more than once. Christopher Lewis states that if the support is broken, gold's journey to the bottom will begin: “If we break down there then the market will probably head towards the $1680 level which is a bit of a 'triple bottom' so I think it will probably continue to offer support, but the truth is that the area has been tested so much that it tells me it may stop supporting the market.” Christopher Lewis predicts that if he stops supporting the market, the market will fall towards the $1500 level. The analyst states that the continued strengthening of DXY will put pressure on gold, saying: “This is certainly an area that will attract a lot of attention. If we hit the $1500 level, it's worth considering that the market needs to take a serious look at the overall risk picture. Of course, the US dollar is also very influential and gold will lose as we continue to see the dollar strengthen. If we somehow get above the 200-day EMA, we can start thinking about buying.”