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.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
