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.
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.
