Gold Prices November 5, 2015, Technical Analysis

Gold markets rose initially during the course of the session on Wednesday, but then turned back around to form a shooting star. With this, if we can break down below the bottom of the range we feel that the market should then reach towards the $1100 level, and perhaps even lower than that. In the meantime, rallies will offer selling opportunities on short-term charts as well. We will find buyers sooner or later, but we will have to wait for at least a daily candle to make that decision at this point in time as the market looks so soft.