Gold Analysis( Sell or Buy ?)
The gold markets as you can see fell during the course of the session on Wednesday, testing the $1220 level. Ultimately, we believe that there is a significant amount of support all the way down to at least the $1180 level, so we are looking for supportive candles in order to start going long of this market. As far selling is concerned, it is difficult to do to simply because of all the noise below. If we get a supportive candle, we are buyers, otherwise we will simply avoid this market for the time being.