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Gold Prices February 24, 2017, Technical Analysis
Updated: Feb 24, 2017, 05:21 GMT+00:00
The gold markets rallied during the day on Thursday, as it looks like we are trying to break above the $1250 level. If we can get above there, I think
The gold markets rallied during the day on Thursday, as it looks like we are trying to break above the $1250 level. If we can get above there, I think that the market continues to go much higher. The 100-exponential moving average underneath continues to be supportive, as well as the 50% Fibonacci retracement level should be. Because of this, I am a buyer and I believe the dips offer value that people will continue to take advantage of. Given enough time, the $1300 level will be targeted, and thus I have no interest in selling.
About the Author
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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