The gold markets fell during the session on Tuesday, slicing through the $1280 level. However, we still see quite a bit of support down at the $1250
The gold markets fell during the session on Tuesday, slicing through the $1280 level. However, we still see quite a bit of support down at the $1250 level, which of course means that the market can be sold quite yet. A supportive candle could be a nice buying opportunity though, but we don’t have that candle yet either. With that being the case, we feel that this market is essentially going to give us a buying opportunity eventually, but we do not have at the moment. As far as selling is concerned, we need to get below the $1240 level in order to do so.
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.
