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Daily Market Analysis 24/11/2021: GOLDs

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Learning Strategies / Online Education

Daily Market Analysis 24/11/2021: GOLDs

Instrument: GOLDs

Technical Analysis

Bullish Preference: 
Buy position is envisaged if price trades above 1797.48 with take profit at 1799.90.
Bearish Preference: 
Sell position is envisaged if price trades below 1790.36 with take profit at 1788.37.
Fundamentals:2:30pm USD Prelim GDP q/q USD Unemployment Claim
4:00pm USD Core PCE Price Index m/m
8:00pm USD FOMC Meeting Minutes

Comment: The greenback stays resilient against its major rivals mid-week as the benchmark 10-year US Treasury bond yield holds above 1.6%. The price of gold fell for a fifth straight session, dropping to its lowest level in about three weeks, breaching the psychologically important value of $1,800 an ounce again.

Analysis: SCRUM Team

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