By FXEmpire.com
The gold markets during the session on Tuesday went both up and down in reaction to comments made by Ben Bernanke in front of the U.S. Congress. While there were no explicit terms or suggestions that a quantitative easing was coming anytime soon, the Chairman did suggest that it was possible if needed. This of course gave both the bullish and bearish traders out there a little of something each, and this is why the markets chose to remain fairly neutral by the end of the session. While the candle is negative, it should be noted that it’s more of a doji than anything else. With this being said, we still need to see a breakout of the current consolidation between the $1540 mark, and the $1640 level.
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Originally posted here
