Gold markets went back and forth during the week but eventually ended up with a slightly positive candle. As we are hugging the $1100 level, it does
Gold markets went back and forth during the week but eventually ended up with a slightly positive candle. As we are hugging the $1100 level, it does appear the gold markets are trying to build up enough momentum to finally break out. We believe that a break above the recent high should be a reason for the market to continue going higher, perhaps reaching towards the $1180 handle. Ultimately, this is a market that is still in a downtrend, but it appears that we are trying to form some type of base in this general vicinity. This of course is a very long-term type of thought process.
Gold forecast for the week of January 25, 2016, Technical Analysis
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.
