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Analyst: The rise of COMEX gold futures may accelerate again.
Jin10 data reported on July 2nd, RHB Retail Research analyst Joseph Chai said in a research report that from the daily chart perspective, the bullish momentum of gold futures on the New York Commodity Exchange seems to be re-accelerating. Gold prices closed on Tuesday with a bullish candlestick, and the relative strength index has surpassed the 50% threshold, indicating current upward momentum. With the recovery of momentum, long positions are targeting a test of the 20-day simple moving average, followed by the resistance level of $3500/ounce. A bullish crossover on the 20-day moving average will improve the technical layout.