The gold markets fell during the session here on Thursday, as the market gapped lower initially. We fell all the way down to the $1230 region, and as a
The gold markets fell during the session here on Thursday, as the market gapped lower initially. We fell all the way down to the $1230 region, and as a result we think that we are going to continue to fall down to the $1220 region, an area that is much more supportive. The question then becomes whether or not we can find supportive candles in this area, and if we do we would be buyers as the market should continue to go higher. If we do break down below the $1220 level though, we feel that the market would then head back down towards the lows that we had seen recently.
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.
