The gold markets gapped lower at the open on Monday, and broke down below the $1275 level. We fell from there, but started to see support near the $1260
The gold markets gapped lower at the open on Monday, and broke down below the $1275 level. We fell from there, but started to see support near the $1260 level. Because of this, I believe that the buyers are coming back, so therefore I am bullish and I believe that the gold markets will reach towards the $1300 level over the longer term. I believe that the $1250 level offers quite a bit of support, and selling isn’t even possible until we break below the $1240 level, which could signify even more bearish pressure.
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.
