Gold markets initially rose during the course of the session on Wednesday but turned back around to form a shooting star. We’re currently sitting just
Gold markets initially rose during the course of the session on Wednesday but turned back around to form a shooting star. We’re currently sitting just above the $1080 level, which of course is massive support from back during the month of August. If we can get below there, this market should begin to extend its bearishness, and reach towards the $1000 handle. Any rally at this point time would have to be looked at with suspicion, and we would have to sell resistive candles as the sellers are most certainly in control at this point in time.
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.
