Gold Prices July 31, 2012, Technical

Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

The gold markets did very little during the Monday session, and this makes sense considering that there are several major economic announcements coming later this week. With the ECB set to announce some type of easing, and the United States releasing its job numbers, it makes sense that the gold markets may take a bit of a rest.

Adding to this is the fact that we are currently sitting just under the $1640 level, which of course is massive resistance. It is on a daily close above that level that we choose to go long in this market, and it looks less and less likely that we will be able to sell under any circumstances.

Want to read more articles like this one?
Enter your e-mail address and read FX Empire content directly from your inbox.
We value your privacy. Your e-mail address will not be shared.
About: FX Empire Analyst - Christopher Lewis

Christopher is a part of the 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.

  View all of FX Empire Analyst - Christopher Lewis's Articles    
Share Your Thoughts: Post a Comment

Your email address will not be published.