Advertisement
Advertisement

Gold forecast for the week of October 3, 2016, Technical Analysis

By:
Christopher Lewis
Published: Oct 1, 2016, 05:13 UTC

Gold markets fell slightly during the course of the week, as we continue to bounce around the $1320 level. At this point in time, I’m waiting to see

Gold weekly chart, October 3, 2016

Gold markets fell slightly during the course of the week, as we continue to bounce around the $1320 level. At this point in time, I’m waiting to see whether or not we get some type of supportive candle that I can serve buying as the market is most certainly in an uptrend, and we most certainly have quite a bit of support near the $1300 level. A break higher should send this market looking to the $1400 level below, and then eventually break above there. At this point, I have no interest in selling this market.

About the Author

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.

Did you find this article useful?

Advertisement