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.
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.
