Gold markets had a choppy yet unimpressive session on Tuesday as we continue to hang at lower levels. Break down below the bottom of the Monday handled
Gold markets had a choppy yet unimpressive session on Tuesday as we continue to hang at lower levels. Break down below the bottom of the Monday handled continues the downward pressure, but quite frankly I feel that every time we rally there is a good chance that an exhaustive candle forms that we can search selling off shorter-term charts. Ultimately, this market should reach down to the $1100 level, and then possibly even the $1000 level beyond that. I believe that the $1200 level above continues to offer massive amounts of resistance of the market will struggle with.
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.
