Gold markets softened a bit during the day on Tuesday, as we remain below the $1330 level. We are currently treading water at the bottom of the gap from
Gold markets softened a bit during the day on Tuesday, as we remain below the $1330 level. We are currently treading water at the bottom of the gap from several sessions ago, so we could get a bit of a bounce from here. However, I am not comfortable buying gold until we break above the $1330 level again, so at the moment I am on the sidelines. A breakdown below the $1320 level has me looking for the $1300 level again, so it’s a matter of letting the market tell me which direction to trade.
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.
