Gold markets went back and forth during the week but eventually ended up with a slightly positive candle. As we are hugging the $1100 level, it does
Gold markets went back and forth during the week but eventually ended up with a slightly positive candle. As we are hugging the $1100 level, it does appear the gold markets are trying to build up enough momentum to finally break out. We believe that a break above the recent high should be a reason for the market to continue going higher, perhaps reaching towards the $1180 handle. Ultimately, this is a market that is still in a downtrend, but it appears that we are trying to form some type of base in this general vicinity. This of course is a very long-term type of thought process.
Gold forecast for the week of January 25, 2016, Technical Analysis
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
