Gold markets rallied on Tuesday, approaching what I consider to be the “ceiling” of the market. The $1200 level should be resistive, and I of course have
Gold markets rallied on Tuesday, approaching what I consider to be the “ceiling” of the market. The $1200 level should be resistive, and I of course have it marked on the chart with a large yellow band. I’m looking for some type of exhaustion in this area to start selling gold again, but if we can close above the $1220 level, I think at that point we must start thinking about gold been in an uptrend again. A lot of this must do with the value of the US dollar, and if we can continue to strengthen over the longer term.
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.
