Gold Looks Ready For A Technical Bounce
Satendra Singh | Dec 14, 2018 10:20AM ET
Since my last analysis of Gold futures, I find that Gold bulls are too confident to move upward before the weekly closing due to sliding S&P 500 futures. The upcoming Fed meeting is likely to keep gold bugs indecisive. The buy-on-dip gold buyers look to have already started to take long positions. I find that a sustainable move of Gold futures above $1238 in an hourly chart ensures an eruptive move from current levels. A weekly closing above $1241 will confirm the gap-up opening of Gold futures on the first trading session of the upcoming week. Let’s have a look at the movements of Gold 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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