Gold markets initially rallied on Thursday, but found enough resistance above to turn back around and form an exhaustive candle. Ultimately, this is a
Gold markets initially rallied on Thursday, but found enough resistance above to turn back around and form an exhaustive candle. Ultimately, this is a market that I think isn’t ready to go anywhere at the moment and therefore I’m not willing to trade. There is a lot of support just below though, so I don’t think that a breakdown is coming anytime soon. I think we are simply trying to adjust to the new reality of a Pres. Trump and the United States. Because of this, it’s probably best to stand on the sidelines at the moment.
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.
