Gold Technical Analysis(2015.12.30)
Gold markets tried to rally during the course of the day on Tuesday, but struggled as we have seen time and time again. This is a market that continues to find of selling pressure every time it rallies, so having said that we feel it’s only a matter time before sellers reenter on a short-term rally. With this, we remain bearish and believe that we will reach down towards the $1050 level given enough time. We have no designs on buying gold at the moment as the bearish pressure continues to mount in this market.