The gold markets fell most of the week, and pierced the $1650 level. While this was a very bearish week, the reality is that the 1650 level did in fact
The gold markets fell most of the week, and pierced the $1650 level. While this was a very bearish week, the reality is that the 1650 level did in fact hold on Friday, as the daily candle for that session formed a hammer. It looks like we still continue to have support for this market and as you know we are very bullish of it long-term. Because of this, we believe that after the holidays we should see the majority of traders reenter this market on the long side. As such, we are more than willing to follow them.
Gold Futures forecast for the week of December 24, 2012, Technical
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.
