The gold markets initially tried to rally during the day on Friday, but turned back around to form a little bit of a negative candle. Having said that,
The gold markets initially tried to rally during the day on Friday, but turned back around to form a little bit of a negative candle. Having said that, the real support is closer to the $1200 level as far as I can see, so at this point in time I have to see whether or not we find some type of supportive candle in order to start going long. On the other hand, if we break above the top of the shooting star from the Thursday session, that would be reason enough to start going long as well, and perhaps reaching towards the $1300 level.
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.
