Gold markets were very quiet on Friday as the volume dried up. The result was a very flat session that sold off just slightly. The recent shooting star on
Gold markets were very quiet on Friday as the volume dried up. The result was a very flat session that sold off just slightly. The recent shooting star on Wednesday suggests that the next move might be down, but we like the overall uptrend of gold over the last 10 years as a barometer of which way to trade. The $1,500 – $1,600 area is one massive support zone, so we are not selling – rather looking for supportive candles to buy from in the next few sessions.
Gold Forecast December 26, 2011, Technical Analysis
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.
