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Gold Prices November 10, 2015, Technical Analysis

By:
Christopher Lewis
Published: Nov 10, 2015, 04:36 UTC

Gold markets initially tried to rally at the open on Monday, but turned back around and form a bit of a shooting star. While this is very negative, the

Gold Prices November 10, 2015, Technical Analysis

Gold markets initially tried to rally at the open on Monday, but turned back around and form a bit of a shooting star. While this is very negative, the reality is that there is a bit of support between here and the $1080 handle. With that, we believe that short-term rallies might be used to sell the gold market, but quite frankly once we get above the $1080 level, that’s when we feel it’s easier to short this market. At that point in time, we think that the gold markets will then grind lower towards the $1000 level.

 

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About the Author

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.

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