Gold markets fell significantly during the course of the week, breaking down to the $1215 level. We still see quite a bit of support at the $1200 level,
Gold markets fell significantly during the course of the week, breaking down to the $1215 level. We still see quite a bit of support at the $1200 level, so at this point in time it’s very likely that we will see a bit of a bounce at that area if we reach it. However, if we can break down below that Larry a, it’s very likely that the market will continue to go lower. Ultimately, we closed at the bottom of the range, so at this point in time you have to think that there is still quite a bit of bearish pressure though.
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.
