Instrument: GOLD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if the price trades above 1909.80 with take profit at 1906.80
Bearish Preference:
A Sell position is envisaged if the price trades below 1906.24 with take profit at 1904.86
Fundamentals:
2:30PM USD: Empire State Manufacturing Index
Comment:
Gold prices hovered around eight-month highs on Tuesday, having stuck to a tight range in recent sessions as investors awaited more cues from a slew of economic data due this week, with a particular focus on any signs of a recession. Trading volumes in the yellow metal were also limited by a U.S. holiday on Monday, although the dollar saw a mild recovery.
Analysis: SCRUM Team
