Gold forecast for the week of December 19, 2016, Technical Analysis
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.