Gold Recommendation Update, June 23rd | Hacked: Hacking Finance
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Gold Recommendation Update, June 23rd

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Gold Recommendation Update, June 23rd

Introduction

This article was posted on Friday, 17:13, UTC.

Gold: Long-Term Buy (reiterated)

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Gold Futures, 4-Hour Chart Analysis

The Shiny Metal seems to have completed a short-term correction that started after the Fed-meeting last week, and it gave a short-term buy signal today, when confirming a higher swing low at $1247, with a target of $1300. Our long-term recommendation remains intact while short-term traders could place stop loss orders below the $1240 support.

The $1262 and $1274 levels are ahead as resistance zones, together with the recent high at $1300. The escalating Middle East tensions and the deteriorating global economic conditions provide the fundamental background for the move, with the declining long-term US yields and the ongoing downtrend in the USD also helping the outlook for precious metals.

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Feedback or Requests?

Mate Cser

Mate Cser

Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.

Comments
  • user

    AUTHOR Tyson Gray

    Posted on 12:39 am June 24, 2017.

    Hi Mate. Any recommendations on Gold ETF’s or Miner stocks? Thanks.

    • user

      AUTHOR Mate Cser

      Posted on 4:10 pm June 24, 2017.

      Hi Tyson, I will take a look at the segment for opportunities in the coming days. Thanks for the input

  • View Comments (2) ...
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