Gold markets fell during the course of the day on Tuesday, and looks set to continue. However, there is a massive amount of support below so I think that
Gold markets fell during the course of the day on Tuesday, and looks set to continue. However, there is a massive amount of support below so I think that this is going to be a short-term selling opportunity at best. Given enough time, I would expect buyers to return, especially just above the $1300 level where I see a massive amount of support. While we have been drifting a little bit lower over the last couple of months, we are still very much in the consolidation area that followed a strong move higher.
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.
