Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1839.85 with take profit at 1840.78
Bearish Preference:
Sell position is envisaged if price trades below price1835.98 with take profit at 1834.84
Fundamentals:
No Major Fundamental
Comment:
Gold was down on Tuesday morning in Asia as the U.S. dollar eased, while investors monitored posturing from major central banks on interest rate hikes. Gold futures edged up 0.12% to $1,842.95. The dollar, which normally moves inversely to gold, fell on Tuesday morning. The (gold) market is sitting tight as, after a historic week for global central banks; policymakers will get to explain the reasoning behind their decisions this week.
Analysis: SCRUM Team