Gold Prices forecast for the week of June 10, 2013, Technical Analysis

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The gold markets tried to rally during the previous week, but you can see for the second week in a row were pushed back in order to form a shooting star. Because of this, we are very leery about buying this market until we managed to break the top of the two consecutive shooting stars. As for selling, although this chart looks weak, we can make a significant argument for support down near the $1350 level, and as a result unless we get a pop higher, we will simply stay out of this market.

 

goldWEEK

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About: FX Empire Analyst - Christopher Lewis

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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