The gold markets had a negative week, as we have sliced through the $1150 level. Any time we rally at this point there should be selling pressure given
The gold markets had a negative week, as we have sliced through the $1150 level. Any time we rally at this point there should be selling pressure given enough time, and that we should continue to reach lower and towards the $1100 handle. Ultimately, I have no interest in buying the gold market as there is so much in the way of strength when it comes to the US dollar. Ultimately, I believe that the $1200 level is absolutely the “ceiling” in this market. With this, I continue to look for selling opportunities again and again.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
