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.
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.
