The gold markets initially fell during the day on Monday, but turned right back around to form a bit of a hammer, so with the supportive action just
The gold markets initially fell during the day on Monday, but turned right back around to form a bit of a hammer, so with the supportive action just below, and extending all the way down to the $1300 level, I don’t have any reason to sell this market. Ultimately, this is a market that should continue to try to grind sideways overall, and as a result it’s likely that the market will eventually find enough buyers to push the metal higher. This is a bullish market overall, but you’re going to have to be patient.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
