Gold Prices November 4, 2015, Technical Analysis
Gold markets fell significantly during the day on Tuesday, slamming into the $1120 level. With that being the case, it looks as if the market is testing an uptrend line, and if we can get below there, the market will more than likely reach towards the $1100 level. On the other hand, if we get a supportive candle we could be buyers as it could represent a significant amount of support. Ultimately though, if we break out to the upside from the uptrend line, we believe that the market could reach towards the $1160 level. Either way, the one thing that we can count on is volatility.
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