Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1784.37 with take profit at 1788.50.
Bearish Preference:
Sell position is envisaged if price trades below 1769.73 with take profit at 1765.14.
Fundamentals:
No major fundamental.
Comment: Gold held steadily during Tuesday’s APAC session after gaining 2.9% over the last three trading days. Risk sentiment turned sour after China reported disappointing retail sales and industrial production figures for July, underscoring downward pressure amid viral resurgence and severe weather conditions.
Analysis: SCRUM Team