Gold markets initially fell during the course of the session on Monday, but then turned right back around to reach towards the $1340 level, and as a
Gold markets initially fell during the course of the session on Monday, but then turned right back around to reach towards the $1340 level, and as a result I believe that we are testing significant resistance. If we can break above the $1350 level, the market will continue to go much higher, as it would show a pickup in momentum and of course strength. I believe the pullbacks will offer value the people will take advantage of, so therefore I am essentially “long only.” With that in mind I do think that eventually we continue the longer-term uptrend.
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.
