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Daily Market Analysis 15|07|2020: GOLD

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Daily Analysis / Online Education

Daily Market Analysis 15|07|2020: GOLD

Instrument: GOLD

Intraday: Bullish

Technical Analysis

Preference: 
Buy position is envisaged if price trades above 1810.29 with take profit at key level 1815.15.
Alternative scenario: 
Sell if price trades below 1806.07 with take profit at 1801.21.
Fundamentals:
No fundamental with direct impact on the commodity.

Comment: Gold was marginally down on Wednesday in Asia, reversing its earlier gains. But the yellow metal’s losses were capped by mounting COVID-19 fears on top of worsening U.S.-China relations.

Analysis: SCRUM Team

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