Gold markets fell significantly during the day on Friday, slicing through the 1330 level, and testing the 1320 handle. If we can break down below the 1320
Gold markets fell significantly during the day on Friday, slicing through the 1330 level, and testing the 1320 handle. If we can break down below the 1320 level, I think the market probably goes down to the 1300 level. I think that there is going to be a lot of exhaustion, as we have recently gotten ahead of ourselves. I think the $1300 level below will offer a lot of support though, and that the buyers should show up at that point. If we break down below that level, things get ugly. The market has benefited from a “risk off” trade as of late, which seems to be abating.
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.
