The gold markets broke above the $1300 level during the session on Friday, to close near the $1320 level. Because of this, we now feel that the market has
The gold markets broke above the $1300 level during the session on Friday, to close near the $1320 level. Because of this, we now feel that the market has indeed broken out significantly, and at this point in time we feel that pullbacks should offer nice buying opportunities. The market looks like it’s going to head to the $1360 level first, and then the $1400 level. We have no interest in selling as we see plenty of support below, especially near the $1280 level, which was the site of the original breakout. In fact, we have no scenario is in which we sell.
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.
