Instrument: GOLD
Intraday: BEARISH
Technical Analysis
Preference:
Sell position is envisaged if price trades below 1879.64 with take profit at 1869.65.
Alternative scenario:
Buy position is envisaged if price trades above 1902.90 with take profit at key level 1915.99
Fundamentals:
None with direct impact on the commodity
Comment: Gold was down on Wednesday morning over a strengthening dollar and cautious optimism over the latest U.S. stimulus measures. The dollar inched up and stocks, which usually move inversely to the yellow metal, were mostly up during Wednesday’s Asian trade.
Analysis: SCRUM Team