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Gold Prices November 5, 2015, Technical Analysis

By:
Christopher Lewis
Updated: Nov 5, 2015, 05:09 UTC

Gold markets rose initially during the course of the session on Wednesday, but then turned back around to form a shooting star. With this, if we can break

Gold Prices November 5, 2015, Technical Analysis

Gold markets rose initially during the course of the session on Wednesday, but then turned back around to form a shooting star. With this, if we can break down below the bottom of the range we feel that the market should then reach towards the $1100 level, and perhaps even lower than that. In the meantime, rallies will offer selling opportunities on short-term charts as well. We will find buyers sooner or later, but we will have to wait for at least a daily candle to make that decision at this point in time as the market looks so soft.


 

Gold Prices November 5, 2015, Technical Analysis
Gold Prices November 5, 2015, Technical Analysis

About the Author

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.

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