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.
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.
