By FXEmpire.com
Gold markets had a very quiet session during the Tuesday trading day, as there was simply no news to push markets in one direction or the other. The daily candle ended up being a shooting star, but the range is so small that we don’t even take that into account.
This market still is consolidative in nature as far as we can tell, and as such we are willing to put any money to work and end at the moment. However, you can glean some type of analysis based upon the fact that the lows are starting to get a little bit higher, and it does look like we are trying to build enough pressure to break through the $1640 level.
As for selling, we simply won’t sell gold until we break below the $1500 level. It is underneath that area that we think the downside momentum would pick up and really start a rout in this commodity.
Click here a current Gold Chart.
Originally posted here
