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Gold - Uptrend Still Intact, Despite Downward Move

By Satendra SinghCommoditiesMar 14, 2019 11:47AM ET
www.investing.com/analysis/gold--uptrend-still-intact-despite-downward-move-200397805
Gold - Uptrend Still Intact, Despite Downward Move
By Satendra Singh   |  Mar 14, 2019 11:47AM ET
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Since my last analysis https://www.investing.com/analysis/gold-finally-finds-support-before-bouncing-back-200396534 , on analysis of the movements of Gold futures, in different time frames, in the same chart pattern, which I have discussed in my last few analysis; I find the uptrend in Gold futures is still intact due to increasing selling pressure in global equity indices. Most of the equity markets look under growing concerns over slowest rate of Chinese economic growth. Wall Street pointed to a slightly lower open on Thursday after China's industrial output expanded at its slowest rate in 17 years.

The data increases 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.

I, therefore, find the Gold futures to maintain inside the ‘Handle’ in daily time frame; in “Cup With Handle” formation.

Watch my commentary https://youtu.be/jb3dpNsBgi8 on gold.

Gold Futures Daily Chart - Cup With Handle - Expected Trading Zone From March 14th - April 27th, 2019
Gold Futures Daily Chart - Cup With Handle - Expected Trading Zone From March 14th - April 27th, 2019

Gold Futures 4 Hr. Chart - Cup With Handle - Expected Trading Zones
Gold Futures 4 Hr. Chart - Cup With Handle - Expected Trading Zones

Gold Futures 1 Hr. Chart - Cup With Handle - Expected Trading Zones
Gold Futures 1 Hr. Chart - Cup With Handle - Expected Trading Zones

Gold Futures 15 Minutes Chart - Expected Moving Zones
Gold Futures 15 Minutes Chart - Expected Moving Zones


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Gold - Uptrend Still Intact, Despite Downward Move
 
Gold - Uptrend Still Intact, Despite Downward Move

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aji koo
aji koo Mar 15, 2019 2:15AM ET
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anyone that doesn't buy gold and silver now will regret it when it skyrockets this year...
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Abhay Agrawal
Abhay Agrawal Mar 14, 2019 12:05PM ET
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Satendra Singhji please send any report on silver too
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Disclaimer: This analysis is purely based on the technical observations. I do not have any position in Natural Gas. One can create position in Natural Gas at his/her own risk.
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