Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1755.58 with take profit at 1764.40.
Bearish Preference:
Sell position is envisaged if price trades below 1736.15 with take profit at 1727.20.
Fundamentals:
USD 3:00PM: FOMC Member Bostic Speaks
JOLTS Job Openings
FOMC Member Barkin Speaks
Comment: Hurting sentiment Monday has been sharp falls in gold and oil prices as investors attempt to digest the growing number of Covid-19 cases, primarily in China, as well gains for the U.S. dollar after Friday’s strong nonfarm payrolls release. The number of cases in China has hit a six-month high, with millions of people now put under lockdown and mass testing being conducted across the country.
Analysis: SCRUM Team