The gold markets did almost nothing during the day on Tuesday, as we continue to hang about the $1225 region. I think there is a massive amount of support
The gold markets did almost nothing during the day on Tuesday, as we continue to hang about the $1225 region. I think there is a massive amount of support below at the $1200 handle, so given enough time I think we could bounce from here. That bounce could end up being a selling opportunity though, and of course a move below the $1200 level would be extraordinarily negative. Ultimately, I think we need to see a longer-term bullish signal in order to start buying, and obviously we don’t have that 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.
