Instrument: GOLD
Technical Analysis
Bearish Preference:
Sell position is envisaged if price trades below 1719.50 with take profit at 1714.57.
Bullish Preference:
Buy position is envisaged if price trades above 1729.42 with take profit at 1736.00.
Fundamentals:
No major fundamentals
Comment: Gold prices erased early gains on Monday as hopes of a faster economic recovery for the U.S got a boost. A surge in U.S. Treasury yields kept bullion under pressure.
GOLD bounced off really oversold levels, so we got some people just trying to buy the dip a little bit and take advantage of that. But, the short-term fluctuations tend to be aligned with the U.S. dollar.
Analysis: SCRUM Team