The gold markets went back and forth during the course of the day on Tuesday, just below the $1200 level. We believe that this market is getting ready to
The gold markets went back and forth during the course of the day on Tuesday, just below the $1200 level. We believe that this market is getting ready to go lower, and as a result we are sellers. We believe that any resistive candle between here and there is an opportunity to continue to sell, as the longer-term downtrend should take over. In fact, we see massive resistance all the way to the $1250 level, and could not buy this market until we get well above there. We believe ultimately this market will go to the $1000 handle.
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.
