Gold markets initially fell during the course of the day on Monday, but found enough support to test the $1250 level again. Because of that, it looks as
Gold markets initially fell during the course of the day on Monday, but found enough support to test the $1250 level again. Because of that, it looks as if the market is trying to go higher, but until we clear the $1250 level on a daily close, we are bit cautious about going long. At that point in time though, it should then head to the $1280 level. Pullbacks at this point time should offer support as well, unless of course we get back down below the $1220 level, which would have us thinking that the market may drop a bit farther.
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.
