Gold Forecast September 28, 2012, Technical Analysis
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The gold markets rose after printing a hammer on Wednesday. The Thursday session showed real strength, and we even managed to press up against the $1780 resistance level. It looks like it’s only a matter time before gold breaks out, and as such we prefer buying this market via the ETF market for now, only to buy the futures after we break out above the 1780 level on a daily close.
With the increasing liquidity that the Federal Reserve is bringing into the marketplace, gold should continue much higher and eventually make a search towards the $2000 an ounce level. We will not sell gold at this point time, simply because the fundamentals don’t are so positive for this precious metal.
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Christopher is a part of the FXEmpire.com analysis team. He writes Forex and Commodities technical analyses on daily and weekly basis. Christopher writes his analyses in a professional and yet simple to understand manner. His analyses are available in both text and videos.
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