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Gold Finds Support Above Recent Low

Gold Finds Support Above Recent Low

Thomas Long, Course Instructor

Like the US stock market, the gold market has pulled back off of the highs, found support and now appears to be moving back to the upside. This 4-hour chart of gold shows that the reversal back to the upside printed above the 1314.95 support level. A break of that price level could open the door to more selling pressure which could mean a decent sell off in a market like this one which has moved up to highs many traders thought they would never see.

Gold_body_72514d1290098600-chart-day-gold-1118.png, Gold Finds Support Above Recent Low

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.