Gold: Bulls Look Too Aggressive After Formation of "Golden Cross"
Satendra Singh | Jul 15, 2019 02:33AM ET
On analysis of the movements of Gold futures in different time frames, I find that the Gold futures look ready to break psychological resistance at $1444; before heading for the final target at $1456 in July 2019. No doubt that a sustainable move above the level of $1424 will result in the advent of short-covering rallies during this week before breaking the level of $1444.
I find that the formation of "Golden Cross" in a Daily Chart looks evident enough to encourage Gold bulls to take steep upward moves.
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