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.
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.
