Gold markets initially fell during the course of the week but found enough support to turn things back around and form a bit of a hammer. The hammer of
Gold markets initially fell during the course of the week but found enough support to turn things back around and form a bit of a hammer. The hammer of course is a bullish sign, so we could break out to the upside. However, we need to break above the 1100 level to even consider that being possible, and truthfully the daily charts are telling a little bit of a different story. With this, the one thing that we do count on is volatility and therefore we feel it’s probably best to trade gold from the shorter-term perspective at the moment.
Gold forecast for the week of November 23, 2015, 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.
