Gold: Pulls Back After Testing $3500 | Metals Mine

  • Gold: Pulls Back After Testing $3500

    From dailyforex.com

    Gold markets have pulled back a bit during the trading session on Monday, as we got a little too close to the $3500 level. This is an area that recently offered a massive amount of resistance, so it does make a certain amount of sense that there is “market memory” in that neighborhood. If we can break above there, it would obviously be a very bullish sign and could send traders into the market looking for even bigger gains.The so-called “measured move” in this market is $300, suggesting that we could go as high as $3800 before it’s all said and done. It doesn’t necessarily mean that it’s going to happen ... (full story)

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