Gold markets fell a bit during the course of the day on Wednesday, but did find a little bit of support to turn things back around. Ultimately though, we
Gold markets fell a bit during the course of the day on Wednesday, but did find a little bit of support to turn things back around. Ultimately though, we have broken down below the $1070 level, and that tells us that the selling pressure continues to offer quite a bit of resistance on any rally. We are sellers on a break below the bottom of the range for the Wednesday session, but we are also sellers on short-term rallies when there are signs of exhaustion above, as we see the $1100 level as been massively resistive 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.
