Gold Looks Ready For A Technical Bounce Amid Growing Global Concerns
Satendra Singh | Mar 15, 2019 09:14AM ET
Since my last analysis of the movements of gold futures in different time frames, gold futures look ready for a technical bounce from the current levels. No doubt that a sustainable move to the level of $1313 will result in an eruptive move shortly.
Growing concern over the impact of the U.S.-China trade war on the health of the Chinese economy, as the two largest countries in the world are still working on a trade deal. A possible trade summit between Beijing and Washington has been pushed back to April. As a result, I believe gold futures will stay inside the ‘Handle’ in the daily time frame; in “Cup With Handle” formation.
Watch my commentary https://youtu.be/jb3dpNsBgi8 on gold.
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