Gold markets initially tried to rally on Wednesday but ended up forming a fairly negative candle. However, I see quite a bit of support below at the $1260
Gold markets initially tried to rally on Wednesday but ended up forming a fairly negative candle. However, I see quite a bit of support below at the $1260 handle, so it’s difficult to start selling anytime soon. I believe a supportive candle will appear or perhaps we will get a bounce, but either way I’m looking to go long. If we break above the top of the range for the session on Wednesday, I think that’s reason enough to start going long as well, as I believe the market would then reach towards the $1300 level.
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.
