The gold markets fell hard during the session on Thursday, losing almost 2% by the time the market closed. However, the $1320 level offered support yet
The gold markets fell hard during the session on Thursday, losing almost 2% by the time the market closed. However, the $1320 level offered support yet again, and we did stay above it we would expect to see this market finds support in this general vicinity, and therefore we expect a bounce during the session on Friday, but since we do not have the technical set up we are more than willing to step on the sidelines and wait for some type of supportive candle in order to start buying again. Regardless, we think whenever set up comes it will be a short-term one.
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.
