The gold markets fell
during the course of the week, crashing through the vital for hundred
dollars level. Because of this, we feel that the market is probably
going to continue lower, but we also recognize that there is going to
be a significant amount of volatility, making this a market that you
do not want to trade from a longer-term perspective. We believe that
short-term traders will continue to dominate the marketplace, so
therefore we will look to shorter-term charts for trade set ups.
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Gold markets fell during the session on Friday, slicing through the $1180 level. Because of this, it appears that the market is ready to continue going a bit lower, especially considering that the US dollar has broken out. A stronger US dollar should continue to put significant pressure on gold markets, and commodities in general. With that, it’s very likely that this market should continue to drift down and trying to find support somewhere near the $1160 level, or perhaps the $11,400 level. We believe that the market will probably bounce from that area.
Gold markets fell during the session on Friday, slicing through the $1180 level. Because of this, it appears that the market is ready to continue going a bit lower, especially considering that the US dollar has broken out. A stronger US dollar should continue to put significant pressure on gold markets, and commodities in general. With that, it’s very likely that this market should continue to drift down and trying to find support somewhere near the $1160 level, or perhaps the $11,400 level. We believe that the market will probably bounce from that area.
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