The gold markets fell during the session on Monday, finding the $1300 level to be far too rich. Because of this, it appears that the market is going to
The gold markets fell during the session on Monday, finding the $1300 level to be far too rich. Because of this, it appears that the market is going to test the $1280 level, which we feel is the beginning of support. There is significant support down at the $1260 level as well, and as a result we would be willing to buy a supportive candle somewhere between here and there. Between now and then though, we need to find that supportive candle in order to go long of this market which we believe will eventually test the highs again.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
