By FX Empire.com
Gold markets fell slightly at first during the Tuesday session, only to bounce later as the daily candle printed a hammer. The market continues to be boosted by the issues in Europe, and now there is also concern about the Congressional “Super Committee” in the US not reaching some kind of deal for the budget. The EU could be printing Euros soon, and this should continue to push the price of gold to the upside for the foreseeable future. Because of this, we buy on the dips, with the $1,700 level being our “floor”.
Gold Forecast Nov. 16th, 2011, Technical Analysis
Originally posted here
