Gold At Decisive Juncture Before Moving Ahead
Satendra Singh | Nov 26, 2018 07:55AM ET
Since submission of my last analysis, on analysis of the movements of Gold futures in the same chart patterns, in different time frames, which I have noted in last analysis, I find that the sustainable movement of Gold futures after a gap-up opening is evident enough for a decisive move of Gold futures. I find the Gold futures at a decisive juncture, before moving ahead. No doubt that the Gold bulls look too eager to take an aggressive move from the current levels, once they successfully able to maintain above the opening levels on the first trading session, before moving ahead. I find that only a sustainable move of Gold futures above the level of $1235 will clearly define the intention of Gold bulls. No doubt, Gold bears will try their best to fill this gap with supportive Fed rate hike in December; but, further sliding moves in the global equity markets may provide strong support to Gold bulls during this week. Let’s have a look at the movements of Gold futures in the following charts.
Disclaimer: This analysis is only for educational purpose. Readers are requested to kindly consider their own view first, before taking any position.
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