By FXEmpire.com
The gold markets had a very bearish week over the last five sessions. We have seen significant selling, especially during the Thursday session. We still maintain that 1500 is the massive support level that the sellers will have to overcome in order to turn this into a bear market. Because of this, we haven’t been able to sell this market – but certainly haven’t been buying either. With this in mind we are looking for support of candle from which to buy or possibly a bearish channel that breaks the $1500 mark. Until then we think of the gold market will provide little opportunity for longer-term traders as the headline risks are still out there.
Click here a current Gold Chart.
Originally posted here
