Instrument: GOLD
Technical Analysis
Bearish Preference:
Sell is envisaged if price trades below 1834.54 with take profit at 1830.80
Bullish Preference:
Buy is envisaged if price trades above 1846.27 with take profit at 1851.60
Fundamentals:
No Major Fundamentals
Comment: Gold was up on Tuesday morning in Asia, climbing back up from the one-and-a-half-month low seen during the previous session, as hopes for further stimulus measures to boost economic recovery from COVID-19 countered a firmer dollar. Investors await comments from Secretary of the Treasury nominee Janet Yellen, on U.S. stimulus measures, she will testify before the Senate Finance Committee and will likely touch on topics ranging from foreign-exchange policy to taxes. She is also expected to tell the committee that the government must “act big” with its next COVID-19 relief package.
Analysis: SCRUM Team