Gold markets fell initially during the course of the day on Thursday but found enough support at the $1340 level to turn around and form a hammer. That of
Gold markets fell initially during the course of the day on Thursday but found enough support at the $1340 level to turn around and form a hammer. That of course is a slightly bullish sign, but the fact that the market fell so drastically the day before and we still managed to find support is a good sign. With this, it’s very likely that the market will continue to try to go long, but it could be very volatile in the meantime. With this being the case, it’s a “buy only” market as far as we can see.
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.
