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Daily Market Analysis 26|06|2020: GOLD

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Daily Analysis / Online Education

Daily Market Analysis 26|06|2020: GOLD

Instrument: GOLD

Intraday: Bullish

Technical Analysis

Preference: 
Buy position is envisaged if price trades above 1766.38  with take profit at 1774.80.
Alternative scenario: 
Sell position is envisaged if price trades below 1757.60 with take profit at key level 1751.39.
Fundamentals:
No major economic data with direct bearing to this commodity

Comment: The mixed sentiment among investors have made gold a major instrument to trade. Gold being a safe haven has become more attractive as investors and retail traders buy gold whenever the market shows a decline. Given the rising case of corona virus in the world, sentiments around gold have been bullish, hence, a buy trade is envisaged on this instrument.

Analysis: SCRUM Team

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