By FX Empire.com
The gold markets fell during most of the day on Tuesday, only to bounce back and form a hammer at the $1,700 level. The candle suggests that there is real support in the form of $1,700 and it makes sense as this was a breakout point that we saw just a few days ago. The market has been in an uptrend for several years now, and there is absolutely nothing that makes us think this will change. The jitters in the markets with both the EU-related problems, and stocks potentially falling will more than likely push the price up higher in this market. A break of the highs on Tuesday is a classic buy signal in the market, and we would gladly go long at that point. We won’t sell this market at all.
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