Gold markets gapped higher at the open on Thursday, and then shot straight up towards the $1235 level. Because of that, the sellers step in and pressed to
Gold markets gapped higher at the open on Thursday, and then shot straight up towards the $1235 level. Because of that, the sellers step in and pressed to the downside. With that, a break below the bottom of the shooting star is reason enough for us to start selling, and we would of course do so without hesitation. The gold markets will continue to struggle in our opinion, as the US dollar is simply far too strong to continue seeing the gold markets struggle. With that, we have no interest in buying until we get at least above the $1240 level.
Gold Prices Forecast October 10, 2014, Technical Analysis
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
