By FXEmpire.com
The gold markets fell for the session on Monday, but managed a bounce late in the day in order to form a hammer. The candle is the second hammer in as many sessions, and it certainly looks as if the gold markets are going to get a supportive bounce in the coming sessions. The $1,600 level continues to be an area that could cause a reaction as well, but the market currently looks bullish with a bit of a choppy attitude. It is because of this that we would be willing to buy again on a pullback if we get it. Otherwise, we are willing to buy on a break above the $1,640 level as it would show a “higher high”. As for selling – we still don’t.
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Originally posted here
