Gold markets went back and forth during the course of the week, essentially testing the 1100 level and failing. However, we did form a little bit of a
Gold markets went back and forth during the course of the week, essentially testing the 1100 level and failing. However, we did form a little bit of a hammer so there is a possibility that this market goes higher. However, we believe that the $1150 level above should be resistive, so any rally at this point in time should just simply offer a selling opportunity. We believe that the market is eventually heading down to the 1000 level, so having said that we remain bearish for the foreseeable future.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
