Instrument: GOLD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if the price trades above 1931.03 with take profit at 1933.05
Bearish Preference:
A Sell position is envisaged if the price trades below 1923.63 with take profit at 1921.88
Fundamentals:
No major Fundamentals
Comment:
Gold prices kept to a tight range on Monday as traders hunkered down in anticipation of a Federal Reserve meeting this week. The focus also remained on any signs of slowing economic growth across the globe. Global market sentiment continued improving this past week, gold prices have also been gaining, albeit momentum has faded over the past couple of weeks.
Analysis: SCRUM Team