Corona virus summary:
The French drug maker, Sanofi SA, says it expects to get approval for the potential Covid-19 vaccine it is developing with Britain's GlaxoSmithKline Plc by the first half of next year, faster than previously anticipated.
Sanofi, which is hosting a virtual research and development event, and GSK had said in April that the vaccine, if successful, would be available in the second half of 2021.
"We are being guided by our dialogue with regulatory authorities," Sanofi research chief John Reed told reporters, when asked about the accelerated time frame.
Technical analysis:
Gold has been trading upwards as I expected. Anyway, I still see potential for the rise due to the breakout of the bull flag on the 4H time-frame in the background and strong upward-trend.
Trading recommendation:
Watch for potential buying on the dips using the intraday frames like 15/30 minutes with the upward targets at $1,762 and $1,783.
Additionally, there is the increased momentum on the MACD oscillator, which is another siogn for the strength on the Gold.
