Gold markets went back and forth during the course of the day on Wednesday, testing the $1280 level for support. We did find it there and one would have
Gold markets went back and forth during the course of the day on Wednesday, testing the $1280 level for support. We did find it there and one would have expected, so looks like we still have plenty of buyers below. At this point in time, I believe that the market is simply trying to build up enough momentum to break out to the upside and finally clear the $1300 resistance barrier above. Selling isn’t even a thought at this point, as we have seen so much in the way of bullish momentum previously.
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.
