The gold markets gapped higher at the open on Tuesday, but found the $1240 level to be resistive as one would expect. The area of course has been an area
The gold markets gapped higher at the open on Tuesday, but found the $1240 level to be resistive as one would expect. The area of course has been an area that the market is struggling with, but at this point in time we feel that the market will more than likely drop from here. That being the case, we have to wait until we get above the $1240 level on a daily close. That being the case though, if we can break down below the $1230 level, we think that a short-term selling opportunity will present itself.
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.
