Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1806.44 with take profit at 1809.21 .
Bearish Preference:
Sell position is envisaged if price trades below 18000.90 with take profit at 1798.34.
Fundamentals:
No major Fundamental
Comment: Gold prices are largely unchanged in Tuesday APAC trading after the yellow metal closed out January with a 1.78% loss. Bullion bulls had high hopes after breaking and holding above a key technical level in mid-January, driven by haven flows amid turbulent market conditions. However, prices came crashing back down last week when markets began to stabilize.
Analysis: SCRUM Team