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
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.
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.
