The gold markets initially tried to rally during the course of the session on Friday, but found enough resistance just below the $1090 level to turn
The gold markets initially tried to rally during the course of the session on Friday, but found enough resistance just below the $1090 level to turn things around and form a bit of a shooting star. The shooting star of course is a negative sign and therefore if we can break down below the bottom of a, we are sellers as the market should then reach down towards the $1070 level again, and then even lower. Ultimately, we have a target of $1000 but recognize that it is going to take quite a bit of time to get down there this point.
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.
