Gold markets went back and forth during the day here on Wednesday, testing the $1240 level for resistance. That level did in fact hold as resistance, and
Gold markets went back and forth during the day here on Wednesday, testing the $1240 level for resistance. That level did in fact hold as resistance, and as a result the market continues to bounce around and look rather choppy. With the strength of the US dollar, we have to recognize that the market more than likely will favor the downside, but right now it is simply too volatile to be involved in and risk our trading capital in. We will continue to monitor this market, but right now we don’t really have a set up that we are willing to risk money on.
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.
