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Gold Bulls Look Ready To Enter New Territory

By Satendra SinghCommoditiesJun 28, 2020 11:33PM ET
www.investing.com/analysis/gold-bulls-look-ready-to-enter-into-new-territory-200529104
Gold Bulls Look Ready To Enter New Territory
By Satendra Singh   |  Jun 28, 2020 11:33PM ET
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On analysis of the movements of Gold Futures, in different time frames, I find that the Gold bulls look ready to enter into new territory ($1805- $1954) amid growing recessionary fear since the Federal Reserve’s move ordering banks to suspend stock buybacks and limit their dividend payments in the third quarter.

Secondly, the growing fear over the rise in coronavirus cases may continue to disrupt reopening hopes for some more time until a successful biological cure for COVID-19 is found.  

Gold Futures Monthly Chart
Gold Futures Monthly Chart


Gold Futures Weekly Chart
Gold Futures Weekly Chart


Gold Futures Daily Chart
Gold Futures Daily Chart


Disclaimer: The author of this article does not have any position in Gold futures. Readers are advised to take any position in Gold at their own risk.

Gold Bulls Look Ready To Enter New Territory
 

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Gold Bulls Look Ready To Enter New Territory

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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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