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Gold Forecast December 12, 2016, Technical Analysis

By:
Christopher Lewis
Updated: Dec 12, 2016, 09:28 UTC

The gold market fell slightly during the day on Friday, as we continue to reach down towards the $1150 level below. I think we go much lower, and any time

Gold daily chart, December 12, 2016

The gold market fell slightly during the day on Friday, as we continue to reach down towards the $1150 level below. I think we go much lower, and any time could find bounces they give us an opportunity to take advantage of “value” in the US dollar. I don’t have any interest in buying gold, we started to we break clearly above the $1200 level, and that certainly isn’t going to happen anytime soon. Ultimately, this is a “sell only” market going forward, and I think could be one of those markets that gives you opportunities again and again.

Gold Fundamental Forecast

About the Author

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.

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