Instrument: GOLD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if the price trades above 1848.57 with take profit at 1851.57
Bearish Preference:
A Sell position is envisaged if the price trades below price 1843. with take profit at 1840.09.
Fundamentals:
No Major Fundamentals
Comment:
Gold is continuing to hover around $1,800, where it has traded roughly $30 on either side throughout the bulk of December. Gold traders, like the rest of us, have an idea of what the Fed will do early next year but are holding back as it doesn’t align with the hawkish narrative from the central bank. Patience may be key on that front, but with momentum running thin, the prospect of a correction is growing.
Analysis: SCRUM Team
