Gold markets went back and forth during the day, forming a choppy candle for the day. The market looks as if it should continue to go higher, and I
Gold markets went back and forth during the day, forming a choppy candle for the day. The market looks as if it should continue to go higher, and I believe that the 100-day exponential moving average underneath is support. I have no interest in shorting, I believe that the 100-day moving average will not only be supportive, but the $1200 level below will be supportive as well. Given enough time, the market will then reach towards the $1300 level as far as I can see. This is a market that has turned things around lately, and I believe that the longer-term uptrend continues.
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.
