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Gold forecast for the week of December 19, 2016, Technical Analysis
Updated: Dec 18, 2016, 10:56 GMT+00:00
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
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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.
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About the Author
Christopher Lewisauthor
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.
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