Gold markets initially fell on Friday, but continued to find support just below and ended up forming a hammer like candle. The market now looks as if it
Gold markets initially fell on Friday, but continued to find support just below and ended up forming a hammer like candle. The market now looks as if it should reach towards the highs again but there is a significant amount of resistance between the $1250 level, and the $1260 level above there. Because of this, expect a lot of noise but I do think that eventually we will break out. Dips continue to offer value that I will be taking advantage of going forward. I have no interest whatsoever in selling, I believe gold goes much higher 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.
