Instrument: GOLD
Technical Analysis
Bearish Preference:
Sell is envisage if price trades below 1845.90 with take profit at 1834.99.
Bearish Preference:
Buy is envisaged if price trades above 1858.60 with take profit at 1865.55
Fundamentals:
USD CB Consumer Confidence 4PM
Comment: The White House says there’s an “urgency” to passing President Joe Biden’s $1.9 trillion stimulus plan. But the market remains unsure how quickly it would pass, resulting in little relief Monday for the price of gold itself. Republican lawmakers have voiced objections to the expensive price tag for a $1.9 trillion stimulus package proposed by U.S. President Joe Biden earlier in the month. They have counter proposed a smaller plan targeting COVID-19 vaccine distribution.
Analysis: SCRUM Team