Gold: Bulls Look Ready To Bounce With Escalating US-Iran Tensions
Satendra Singh | May 22, 2019 08:54AM ET
On analysis of the movements of Gold futures, in different time frames, I find that the escalating tensions between the United States and Iran looks evident enough to encourage Gold bulls to bounce from the current levels shortly. No doubt that a sustainable move above the level of $1287 will confirm the continuity of an uptrend till the weekly closing. I find that the Gold futures look a good buy to go long from the level of $1268.
Now, I find that growing bearishness in global equity markets will encourage gold bulls to become more aggressive during the upcoming weeks. I find that a gap-up opening, followed by a steep upward move on the first trading session of the Week will confirm the continuity of uptrend voyage in Gold during the upcoming Weeks.
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