Gold prices September 22, 2014, technical analysis

The gold markets fell during the session on Friday again, breaking the bottom of the hammer from the Thursday session. Because of this, we feel that the market is going to continue to try to fall apart and head towards the $1200 level, an area of considerable support. With that, we feel that the market will try to break below and head towards the $1000 handle, an area that has significant support. On the other hand, we could get some type of supportive candle near the $1200 level in order to start buying. However, the longer-term charts certainly look negative, and as a result we are going to be cautious, but think that the downward pressure will continue, according to fxempire.com