The gold markets as you can see went back and forth during the day on Monday, essentially doing nothing. The markets have been hanging about the $1215
The gold markets as you can see went back and forth during the day on Monday, essentially doing nothing. The markets have been hanging about the $1215 level for some time now, and as a result we feel that the market will continue to grind sideways overall. With that, the market should be one that is best avoided, at least until we get below the $1200 level. If we get below the $1200 level, the market should continue to go lower, probably down to $1000. On the other hand, rallies should be sold on signs of resistance as far as we see.
Gold Prices September 30, 2014, Technical Analysis
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.
