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Instrument: GOLD
Intraday: Bullish
Technical Analysis
Preference:
Buy position is envisaged if price trades above 1810.29 with take profit at key level 1815.15.
Alternative scenario:
Sell if price trades below 1806.07 with take profit at 1801.21.
Fundamentals:
No fundamental with direct impact on the commodity.
Comment: Gold was marginally down on Wednesday in Asia, reversing its earlier gains. But the yellow metal’s losses were capped by mounting COVID-19 fears on top of worsening U.S.-China relations.
Analysis: SCRUM Team
