Gold markets bounced off of the $1320 level during the session on Monday in order to form a fairly positive candle. We have broken to fresh, new highs,
Gold markets bounced off of the $1320 level during the session on Monday in order to form a fairly positive candle. We have broken to fresh, new highs, but we are not above the $1360 level yet. That is the area that we think the market will certainly put up a fight at, and with that we feel that short-term traders can probably go long here as long as they recognize the fact that the area needs to be overcome for the trade to turn into anything bigger. Selling is certainly not an option at this point.
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.
