By FXEmpire.com
The gold markets were very quiet on Friday as the $1,640 level continues to support this market. The 50 day EMA is just above the recent action, and this will continue to pressure the gold market to the downside. However, there is a massive uptrend line that coincides with the area just below, and because of this – we feel that the market is about to make a serious move. We prefer buying at this point, and will go long as soon as we get a hammer, or a long green candle. A close above the 50 day EMA is without a doubt a massively bullish signal as well. As for selling, we need a couple of sessions below the $1,600 level to feel comfortable doing so.
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Originally posted here
