Gold forecast for the week of December 12, 2016, Technical Analysis
Gold markets initially try to rally during the week and formed a relatively negative candle. It now looks as if we’re going to reach towards the $1100 level underneath, and then eventually down to the $1000 level. Anytime we rally at this point in time, I feel that the sellers will continue to jump into this market and push this market even lower. After all, the US dollar continues to strengthen, and because of that I have no interest in buying this market until we break above the $1200 level which I now see as a “ceiling” in this market.