Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1658.53 with take profit at 1662.00
Bearish Preference:
Sell position is envisaged if price trades below 1648.13 with take profit at 1645.00
Fundamentals:
1:30pm USD Empire State Manufacturing Index
Comment:
Gold prices inched higher on Monday but were pinned below key support levels as markets feared more interest rate hikes by the Federal Reserve, while copper markets awaited quarterly production figures from some of the biggest miners in the world, due later this week.
Analysis: SCRUM Team