Gold markets rose slightly during the course of the session on Thursday, but remains well within the consolidation area bordered by the $1080 level on the
Gold markets rose slightly during the course of the session on Thursday, but remains well within the consolidation area bordered by the $1080 level on the bottom, and the $1100 level on the top. With this, the market looks like it isn’t ready to do much, and as a result we are on the sidelines. However, we recognize that a break above the recent consolidation area will more than likely end up being a selling opportunity given enough time and on signs of exhaustion. On a break down below the recent low, we would also be sellers of gold at that point in time.
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.
