The gold markets broke higher during the course of the day on Monday, and even attempted to break above the $1240 level. If we can get above there on a
The gold markets broke higher during the course of the day on Monday, and even attempted to break above the $1240 level. If we can get above there on a daily close, we would then think that at this point in time the market could be bought. On the other hand, we think that this market will continue to fall if we can get above there as the US dollar continues to strengthen overall. If we do get that bearish action, we anticipate a move to $1200 fairly soon. If we managed to break above $1240, this market should then head towards the $1280 level.
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.
