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.
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.
