Gold Prices October 18, 2012, Technical Analysis

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

Gold markets rose off of the bounce that we saw at the 1740 level on Wednesday. The Tuesday session provided is live, and Wednesday was simply follow through. However, it does look like we have broken down below some type of consolidation, and as such we expect this market the fall a bit.

In the big scheme of things, this is of course a small time pullback, and will bring in more sellers. As this is the case, we are very patient and waiting to see that supportive action at the end of the day it would have us feel like risking are trading capital in this market. As for selling, we see absolutely no reason to do so.

 

Gold Prices October 18, 2012, Technical Analysis

Gold Prices October 18, 2012, Technical Analysis

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 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.

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


Your email address will not be published.