Gold markets initially fell during the course of the week but found enough support near the 1320 level to turn things around and form a bit of a hammer. I
Gold markets initially fell during the course of the week but found enough support near the 1320 level to turn things around and form a bit of a hammer. I like gold overall, but the couple of proceeding shooting stars tells me that the market is probably going to have a bit of consolidating to do before we can really breakout. Once we get above the 1360 level however, I feel at that point in time the market will continue its longer-term trajectory to the upside. I have no interest in selling.
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.
