Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1793.43 with take profit at 1795.46.
Bearish Preference:
Sell position is envisaged if price trades below 1785.37 with take profit at 1783.40.
Fundamentals:
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Comment: The wave of omicron-inspired growth optimism sweeping financial markets overnight appears to be tempting a few gold bulls back into the market in search of a bargain. In the bigger picture, gold still looks confined to a USD 1770.00 to USD 1800.00 range this week, unable to sustain momentum above or below those levels.
Analysis: SCRUM Team