Gold Analysis

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Gold Analysis

Gold markets fell during the session on Wednesday, breaking through the $1150 region. It is at the $1140 level that we think that the support still exists, and as a result we need to get below there in order to start selling at this point. We recognize a supportive candle in that region as a nice buying opportunity, but also recognize that if we break through there, the gold markets could fall apart. These are very important sessions over the next week or so. In the gold markets, and as a result we are going to wait until the end of the day each day to think about making a trading decision. Right now, we are on the sidelines.

Gold Chart

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