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.
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.
