The gold markets initially tried to rally during the day on Friday, but turned back around to form a little bit of a negative candle. Having said that,
The gold markets initially tried to rally during the day on Friday, but turned back around to form a little bit of a negative candle. Having said that, the real support is closer to the $1200 level as far as I can see, so at this point in time I have to see whether or not we find some type of supportive candle in order to start going long. On the other hand, if we break above the top of the shooting star from the Thursday session, that would be reason enough to start going long as well, and perhaps reaching towards the $1300 level.
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.
