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Instrument: GOLD
Technical Analysis
Bearish Preference:
Sell is envisaged if price trades below 1838.93 with take profit at 1835.33.
Bullish Preference:
Buy is envisaged if price trades above 1852.01 with take profit at 1857.53.
Fundamentals:
No major fundamentals
Comment: After a week trending downwards, gold was up Friday morning in Asia as investors waited for news from the U.S. on a $1.9 trillion stimulus package proposed by President Joe Biden.
Currently Gold is below the 48 EMA on the daily and the stimulus news may change its momentum in the long run.
Analysis SCRUM Team
