Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1981.12 with take profit at 1987.35.
Bearish Preference:
Sell position is envisaged if price trades below 1969.39 with take profit at 1964.15.
Fundamentals:
No major fundamental
Comment:
Gold was down on Monday morning in Asia. U.S. Treasury yields rose over expectations of a U.S. interest rate hike, while hopes for an end to the conflict in Ukraine dented the safe-haven yellow metal further. Also, the market seems to be pricing in on the U.S. Federal Reserve meeting on Wednesday at which it may start to kick off the tightening cycle
Analysis: SCRUM Team