Gold markets fell during the week, slicing through the 1330 level, and now looks set to perhaps pull back a bit. We have not retested the $1300 level, so
Gold markets fell during the week, slicing through the 1330 level, and now looks set to perhaps pull back a bit. We have not retested the $1300 level, so it would make sense to do that from a technical point of view. Gold markets are and whining a little bit from a “risk off” trade, but I think that there will be buyers underneath trying to get involved. By waiting for a move towards the $1300 level, you are picking up value. If we were to break down below that level, that would be a very negative sign, perhaps sending this market quite a bit lower.
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.
