Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1721.11 with take profit at 1723.77
Bearish Preference:
Sell position is envisaged if price trades below 1710.76 with take profit at 1708.06
Fundamentals:
None with high impact
Comment:
Gold was up on Monday morning in Asia over a pullback in the U.S. dollar as investors’ bets of a 100-basis-point interest rate hike from the U.S. Federal Reserve this month receded. Fed officials signaled that they would stick to a 75-bp rate increase during their meeting on July 26-27 to bring down inflation.
Analysis: SCRUM Team