Gold markets fell during the session on Wednesday, testing the $1260 level. The area looks like it's ready to give way to the selling pressure, but there
Gold markets fell during the session on Wednesday, testing the $1260 level. The area looks like it’s ready to give way to the selling pressure, but there is a lot of noise all the way down to the $1200 area. With that being the case, we actually are more comfortable buying supportive candles if we get them. Selling is going to be difficult, and is going to be very choppy all the way down to the 1200 level, so therefore we are either buying a possible reversal, or we are staying outside of the market for the time being.
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.
