Daily Market Analysis 18|02|2021: GOLD

Gold bars stack
Daily Analysis / Online Education

Daily Market Analysis 18|02|2021: GOLD

Instrument: GOLD

Technical Analysis

Bearish Preference: 
Sell if price trades below 1779.23 with take Profit at 1773.16
Bullish Preference: 
Buy if price trades above 1786.47 with take Profit at 1797.97
No major fundamental

Comment: Gold held near the lowest level in more than two months as an uptick in the dollar and further signs of economic recovery pummeled demand for the haven asset.
Gold, which posted its biggest annual gain in a decade last year, has dropped more than 6% in 2021 amid optimism on growth, fueled by expectations for progress on vaccinations and more economic aid.

Analysis: SCRUM Team

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