The gold markets rose during the course of the day on Monday, after initially falling slightly. However, the region just above the $1200 level should
The gold markets rose during the course of the day on Monday, after initially falling slightly. However, the region just above the $1200 level should continue to offer resistance, and with that we are willing to sell any resistive candles. Those resistive candles will have us aiming for 1000 given enough time, but that is a longer-term call of course. On the other hand, if we get above the $1240 level, we would expect this market to go towards the $1300 level given enough time also. The market should continue to be bearish, although very possibly choppy.
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.
