The gold markets as you can see fell during the course of the day on Tuesday, but remains above the $1200 level, an area that needs to be broke down in
The gold markets as you can see fell during the course of the day on Tuesday, but remains above the $1200 level, an area that needs to be broke down in order to start selling for any real length of time. Rallies at this point time should offer selling opportunities for short-term traders though, as this market certainly has a significant amount of bearish pressure put upon it. The $1240 level above should be massively resistive, and as a result we believe that this market will continue to bounce around with the bearish attitude running the show.
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.
