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Gold Prices December 21, 2016, Technical Analysis
Updated: Dec 21, 2016, 08:46 GMT+00:00
The gold markets fell during the session on Tuesday, as the markets continue to show quite a bit of negative pressure. The US dollar of course has been
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The gold markets fell during the session on Tuesday, as the markets continue to show quite a bit of negative pressure. The US dollar of course has been strong in that works against the value of precious metals in general. It appears that we are reaching towards the $1100 level underneath, which is the first major round number underneath that should offer support. However, I do believe that we break down below there and reach towards the $1000 level underneath. That is the longer-term target, and any time we rally I think you should be looking for work exhaustion to start selling yet again.
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Christopher Lewisauthor
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.
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