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Gold: Bulls Look Ready To Bounce With Escalating US-Iran Tensions

Published 05/22/2019, 08:54 AM
Updated 07/09/2023, 06:31 AM

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.

Gold Futures 4 Hr. Chart - Expected Trading Zones For May 22nd - 24th, 2019

Gold Futures 1 Hr. Chart - Expected Trading Zones For May 22nd - 24th, 2019


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Latest comments

US Iran tension + US China Trade war + Taiwan straits tensions good for gold
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