The gold markets as you can see fell during the course of the day on Wednesday, showing the $1200 level as resistance. With that being the case, the
The gold markets as you can see fell during the course of the day on Wednesday, showing the $1200 level as resistance. With that being the case, the market looks like it’s ready to continue to go lower, and should eventually head down to the $1140 handle. We are bearish of gold markets in general has the US dollar looks like it’s ready to continue going higher, and therefore are sellers. We recognize that it might be a bit of a rocky road down to the $1140 level, but eventually we do expect to see that level.
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.
