The gold markets initially fell during the day on Wednesday, but continue to find buyers underneath the $1250 level. I think there is a significant amount
The gold markets initially fell during the day on Wednesday, but continue to find buyers underneath the $1250 level. I think there is a significant amount of resistance all the way to the $1262 level above, and a break above there would be a very bullish sign and should send this market looking towards the $1300 level. Ultimately, I believe the gold markets will break out and show plenty of strength. I have no interest in selling this market. The markets breaking down below the $1240 level would be a negative sign, and could have the market looking for support just below.
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.
