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.
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.
